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The EU is plagued by a highly regulated system that has hindered its ability to react to the supply shortfalls seen over the last few years.
EU farmers are expecting a sizeable grain crop of 292 million metric tons in marketing year 2013/14.
The EU is highly dependent on imports of oilseeds and oilseeds products (protein meals and vegetable oils) to meet demand for food, feed and industrial uses, including biofuels production.
Driven by a higher potato production in MY2014/15, EU exports of frozen potato products are expected to be up.
For the first time since the High Quality Beef (HQB) quota was increased to 48,200 tons in 2012, the European Union’s (EU) quota for non-hormone treated beef could be filled during the first quarter.