Cereals stimulate the French trade balance again

The dynamics of cereal sales contributed to the French agri-food surplus, which increased by 429 million euros in August 2022 in one year. A new increase resulting from a growth in exports higher than that of imports.

In its economic report from October 13, 2022, Wildthe statistics service Department of agriculture, points out that last August the surplus of agri-food exchanges The Frenchman progressed again for a year. An increase resulting from the marked growth of exports, higher than that of imports.

© Douanes – Agreste – The balance of agricultural raw materials increased due to the effect of increased exports, mainly cereals.

New increase in the French agri-food surplus

In August 2022, theagri-food trade surplus amounts to one billion euros. This represents an increase of 429 million euros compared to August 2021. This result is the result of a growth in exports of 1,500 million euros, that is, +27%, higher in level than that of imports of 1,100 million , or +21%.

with third countries, the surplus amounted to 1,400 million euros, 368 million more in one year. Exports increased by €779 million in one year, or +29%, of which almost 65% was due to raw materials (+505 million), in particular sales of common wheat to Algeria.

With the European Unionthe deficit is reduced to –397 million euros, that is to say +61 million in one year, due to a growth in exports of 705 million (+25%) higher than that of imports of 644 million (+20%).

Raw agricultural product exports are driven by grain sales

In August 2022, the balance of the exchanges of raw agricultural products is 762 million euros. Therefore, it is still surplus. It earned 639 million compared to August 2021. This variation is due, for almost two thirds, to the increase in the trade surplus with third countries, which is +410 million euros in one year.

Estimated at 2 billion euros, the exports grew by 758 million euros, that is, 63% more than in August 2021. In first place among gross exported products, the value of shipments of cereals increased by 628 million, or +111% in one year. If grain quantities shipped year-on-year increase by 0.8 million tonnes, mainly through sales of soft wheatthe increase in average export prices remains significant over a year, in particular +65% for common wheat.

On the side of imports, are estimated at 1.2 billion euros and therefore increase by 119 million euros, an increase of 11% in one year. Although it concerns almost all raw materials, except oilseeds, the increases in the purchase of vegetables (watermelons and melons from Spain in particular) and fish products are the most outstanding: +35 and +31 million euros respectively in one year.

New fall in the trade surplus of processed products

The trade surplus of processed products reached 246 million euros in August 2022. This represents a decrease of 210 million euros compared to August 2021. In one year, the fall in the trade surplus affects 80% of trade with the European Union, –168 million euros.

the exports, estimated at €5 billion, increased by €726 million in one year, or +17%. Although this change affects almost all processed products, it is driven more particularly by sales of wines and spirits, which increased by 182 million in one year in total, particularly to the United States and to a lesser extent to Canada. The increase in sales of dairy products (that I amoils (sunflower oil) is also noteworthy: respectively +122 and +100 million in one year.

The value of imports estimated at 4.8 billion euros, increased by 936 million in one year, or +24%. purchases of meat and slaughterhouse products, mainly Polish poultry but also beef from the Netherlands and the United Kingdom, increased in particular (+199 million euros). The same occurs with imports of dairy products, which increased by 173 million in one year, in particular purchases of butter of the Netherlands and Belgium, and for oils, cakes and fatty substances (+154 million).

Vince Fernandez

"Professional food trailblazer. Devoted communicator. Friendly writer. Avid problem solver. Tv aficionado. Lifelong social media fanatic."

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