On Wednesday 26 October, the European Commission published the latest monthly report on agri-food trade, which shows that EU agri-food exports and imports slowed very slightly in terms of value in July 2022.
Although the value of EU exports decreased by 2% compared to June to €19.2 billion, it remains significantly higher than last year.
EU imports fell by 2% over the same period, reaching €14.3 billion in July 2022. The EU’s trade balance remains stable at €4.9 billion.
Despite the fall in the overall value of exports, EU cereal exports (especially wheat and barley) increased - particularly to the Middle East and North Africa. Indeed, the EU exported 1.9 million tonnes of wheat in July 2022 to the Middle East and North Africa - an increase of 300% compared to July 2021.
In July, total wheat exports to the world reached 3 million tonnes (+74% compared to 2021). The products of which exports fell in July were fruit and nuts (-15%) and vegetables (-10%). Olive and olive oil exports fell by 14% in July (lower exports to the US). More info: https://aeur.eu/f/3sn (Original version in French by Lionel Changeur)