EU Agri-food surplus stable at €5 Billion in May

(ANSA) - ROME, SEP 14 - The EU's agri-food trade surplus remained stable at five billion euros in May this year, albeit slightly down compared to May last year, according to the latest monthly agri-food trade report published by the European Commission.
    The report said exports remained stable at 19.7 billion euros, driven by olives and olive oil, while imports amounted to 14.7 billion euros, up 3% compared to May 2023, driven by the increase in cocoa-based products, fruit, nuts and olive oil.
    The EU's main trading partners, Brussels specifies, remained the United States, the United Kingdom, China, Brazil and Ukraine.
    As for exports, olive oil trade increased by 60% (+1.2 billion euros), while the values of cereal exports fell by 14% (937 million euros) due to lower prices despite higher volumes.
    According to the data, the United Kingdom remained the main destination, followed by the United States, which saw a 9% increase due to higher olive oil prices. China recorded a 10% decrease, mainly in pork.
    Looking at imports, despite a 4% decrease, Brazil remained the main source, followed by the United Kingdom and Ukraine.
    Imports from Ivory Coast, Nigeria and Tunisia increased, driven by higher cocoa and olive oil prices.
    In contrast, imports from Australia, Indonesia and Canada decreased sharply.
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    (ANSA).