The literature on intra-industry trade emphasises imperfect competition as a determinant of such trade, and most of the empirical work has focussed on manufactured goods. However, given the growth in trade in processed agricultural products, particularly between developed countries, and given the structure of the food processing industries, then trade in processed products may also be intra-industry in nature. This paper, therefore, examines trade in high-value products for the US and EC using measures of intra-industry trade and specialisation. The results show intra-industry specialisation to be generally more important for the EC than the US.