Agri Commodities Preview: EU Agri Food Exports Slump In February

The monthly value of E.U. agri-food exports in February dropped 2.2%, with wheat exports showing the most significant decrease with a n++114 million drop in value.The total value of E.U. agri-food exports in February was n++10.5 billion, down from n++10.7 billion in the same month a year earlier. With agri-food imports to the E.U. decreasing faster, the monthly trade balance increased to a surplus of n++1.7 billion, according to the latest report on E.U. agri-food imports and exports.

Wheat exports for the month were down 37% to n++195 million. Flour and other products of the milling industry was down 16% to n++67 million.Soybeans dropped 71% to n++4 million and vegetable oil was down 24.2% to n++161 million.

Overall, the highest increases in monthly exports values were recorded in Turkey, up n++63 million; Brazil, up n++19 million and Singapore, also up n++19 million.

Monthly exports fell to the United States (down n++60 million), South Africa (down n++41 million), United Arab Emirates (down n++40 million) and Switzerland (down n++39 million).