While exports usually dip markedly during the August holidays, this was not the case this year. Instead, the value of EU agri-food was actually higher than in July, with more than €10bn worth of products shipped – a 9.3% jump on the same period last year.

The European Commission reported the strongest growth in exports to the US and Asian countries led by China. Meanwhile, shipments to the Middle East and North Africa slowed down as oil prices remained low, reducing those countries’ purchasing power.

Although the value of EU milk powder exports remains low due to weak prices (-16% in the past 12 months), this does not apply to infant formula, which accounted for the largest category increase in August. This is good news for Ireland, the world’s leading infant formula producer.

As the recovery takes hold in the pig sector, pigmeat was the category reporting the second largest growth.

Wheat was the only grain category showing an increase in the value of exports in August, while other cereals remained pushed down by low prices.

The next few months will indicate whether the August jump translates into a strong growth trend or was merely a sign of changing business habits over the summer holidays.

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