Russian President Vladimir Putin has extended the embargo on EU food exports to Russia for another year.
The trade ban has had a particularly significant impact in the fruit and vegetable sector, but also more widely has contributed to the current low prices for dairy farmers.
Copa, the European farmers’ organisation, pressed the European Commission last week to extend the support measures to withdraw product from the market previously put in place for hard hit fruit and vegetable producers. Figures suggest that exports to Russia from the EU accounted for a quarter of all agri-food exports in 2013, with the result now that exports are down by 40% year on year. More positively, total EU agri-food exports to non-EU countries have jumped by 10% in comparison to April last year, largely driven by trade with China and the US, and a weakened euro against other currencies.
To read more on this topic in a useful Q and A from the commission, click here.
For the NFU's reaction to the original ban, click here.