EU agriculture under an import stop for food and feed

Ferike Thom, Alexander Gocht and Harald Grethe

The World Economy, 2024, vol. 47, issue 5, 2094-2121

Abstract: Recent disruptions in international trade have had significant impacts on consumers and producers worldwide and stemmed from various reasons. This study aims to identify key vulnerabilities in EU agriculture by examining an import stop on food and feed products. By conducting this stylised simulation using a global PE model (CAPRI), the authors analyse the adjustment mechanisms within the sector, investigate regional differences within the EU and test the model's ability to depict such a comprehensive scenario. The findings suggest that oilseeds are most affected by an import stop due to their high import share. Meat is indirectly impacted as it relies on imported soy for animal feed, whereas other products with high self‐sufficiency levels are hardly affected. In response to the import stop, EU production expands, increasing nitrogen surpluses, particularly in regions already facing critical levels. Meat production partially moves out of the EU, increasing global GHG emissions. EU consumers are negatively affected by increased prices, leading to an overall welfare decrease in the EU with exceptions for few member states. Alongside EU imports, exports decrease, affecting prices and welfare outside the EU. In the least developed countries, prices increase especially for products that are already consumed less than recommended.

Date: 2024
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