News
02.10.2024
Ukraine continues to hold third place among the main exporters of agri-food products to the EU
On September 27, was published an analytical report of the European Commission, which focuses on the assessment of agri-food trade for the first half of 2024. According to this report, Ukraine continues to hold third place among the main exporters of agri-food products to the EU, after Brazil and the United Kingdom. It is worth noting that Ukraine's share in EU agri-food imports for the first half of 2024 increased by just 2% (+€124 million) compared to the same period in 2023.
At the same time, EU agri-food imports reached €13 billion, 12% lower than in May 2024 and 1% lower than in June 2023. The largest increase in import value was from Côte d'Ivoire, up by €951 million (+46%), followed by Nigeria (+€473 million, +132%), driven by higher cocoa prices. Imports from Tunisia more than doubled (+107%), mainly due to increased volumes and prices of imported olive oil.
The total export of agri-food products from January to June 2024 from the EU reached €116.4 billion, which is 1% (+€1.1 billion) higher than the same period in 2023. Moreover, the latest monthly figure (June 2024) showed that the EU's overall positive trade balance in agri-food products reached €33.7 billion, which is €1.5 billion more compared to the same period in 2023.
EU agri-food exports in June 2024 reached €18.9 billion, which is 5% lower than the previous month and 4% lower than in June 2023. In the first half of 2024, the largest increase in EU exports was to the US, up by €1 billion (+8%), mainly driven by higher prices for olives and olive oil. This sector also contributed to an increase in exports to Brazil by €209 million (+18%).
The EU continues to play a role in ensuring global food security: cereal exports increased by 8% compared to 2023, reaching 25.1 million tonnes in the first half of the year, despite falling cereal prices. Wheat exports alone grew by 2.7 million tonnes.
