Strong price increases drive EU food exports

The EU's agricultural and food trade saw a remarkable rise in September 2024. The trade surplus grew by 15% compared to August, reaching €6 billion. Despite this growth, it remains 10% lower than in September 2023. The total export value between January and September increased by 2% to €175.5 billion, while imports remained stable at €124.9 billion. These figures are highlighted in the latest EU agri-food trade report from the European Commission.

Exports rise due to higher prices

EU exports reached a value of €19.6 billion in September, 5% more than the previous month. Olive oil and cocoa were key drivers of this growth. The export value of olive oil rose by €2 billion, a 54% increase, mainly due to higher prices. Cocoa exports also increased, while grain exports saw a sharp decline as global prices dropped.

The United States and the United Kingdom remain the EU's largest export markets. Exports to the US grew by €2.2 billion (+11%), driven by olive oil. The UK followed with an increase of €1.1 billion (+3%). On the other hand, exports to China fell by €878 million (‑8%), mainly due to reduced demand for pork, dairy, and grain.

Imports stable but more expensive

EU imports in September remained stable at €13.6 billion. However, cumulative imports for the year were 4% higher than during the same period last year. Cocoa and fruit imports, in particular, rose sharply due to rising global prices. Côte d’Ivoire and Nigeria benefited significantly, with export values to the EU increasing by 57% and 150%, respectively. Ukraine also saw a 10% rise, driven by higher volumes of rapeseed and vegetable oils.

Ec.europa.eu