EU oilseed and cereal export values plunge

The value of European Union (EU) exports of cereals, oilseeds and protein crops, and vegetable oils dropped in January due to reduced volumes, World Grain reported from European Commission (EC) data.

Exports of oilseeds and protein crops decreased by €52M (US$59.8M), or 22%, compared to January 2024 due to reduced volumes. Vegetable oils also decreased by €40M (US$46M), or 17%, due to reduced volumes, the 2 June report said.

Cereal exports had the largest reduction in value with a drop of €466M (US$533.5M), or 37%, mainly due to lower volumes of wheat and corn.

Overall, EU agri-food exports totalled €19bn (US$21.8bn), an increase of 4% from the same period the previous year. The UK was the top destination followed by the USA and Switzerland.

This article has been republished from Oils&Fats International.