EU food penetrates new markets

(VOVWORLD) -Russia’s food ban has put heavier pressure on European agricultural production and led to the loss of about 5.5 billion euros per year. The European Committee has sought new markets for its agricultural products.
EU food penetrates new markets - ảnh 1

Export has played a more important position in EU agriculture. In the future demand for agricultural products in the EU will be stable, while the demand in Asia, Africa, and Latin America will rise due to population increase and changes in the consumption habit of the middle class. EU officials say China, the US, Switzerland, Australia, Saudi Arabia, and the United Arab Emirates are lucrative markets for EU farm produce. Last year exports of dairy products to China, Japan, and the Middle-East countries increased sharply. Some markets have lifted import limits regulations for certain kinds of meat from the EU.

The Statistical Office of the European Communities said that the export of processed agricultural products reached 130.7 billion euros in 2016. Olive oil, wine, and fresh vegetables have been export staples. In 2015 the EU was the world’s first agricultural producer with agricultural produce export of 129 billion euros and a net trade surplus of 16 billion euros.  The latest figures show that gains came mainly from Asia: the Philippines, Singapore and Indonesia.

EU countries have focused on geographical indication to promote production and protect its typical products. Marc Vanheukelen, Ambassador of the European Union to the World Trade Organization, said demand in new emerging economies has increased due to population growth and the middle class preferring high-quality products made in EU countries. Pekka Pesonen, Secretary General of the European Farmers and Agri-Cooperatives Association (Copa-Cogeca) said consumers are becoming more careful about product quality, safety, and nutrient values. France, Italy, Portugal, Spain, and Greece are the first to register for EU quality products. Over 1,400 products have been registered with an export value of 11.5 billion euros.

Agricultural produce export to new markets has helped the EU increase its trade revenue to compensate losses from Russia’s food ban and strengthen its position as the world’s top agriculture exporter.