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Russian ban on imports from west to cost Danish agri-sector billions

English.news.cn   2014-08-08 04:22:44

COPENHAGEN, Aug. 7 (Xinhua) -- Russia's latest decision to ban imports from European Union countries would have considerable impacts on Danish agriculture and cut exports by billions of kroner, an agricultural official said here Thursday.

A significant part of Danish agricultural exports is expected to be subject to Russia's trade sanctions, the Danish Agriculture and Food Council's CEO Soren Gade said in a statement.

The list of products which would be subject to trade restrictions represents an export value of some 3.5 billion kroner (631 million U.S. dollars), Gade said.

Russian Prime Minister Dmitry Medvedev said Thursday that Russia is imposing a ban on food imports from the EU and the United States, in retaliation for the western sanctions against Moscow over the Ukraine crisis.

Russia is Europe's second largest market for food and drink. Exports of food and raw materials to Russia were worth 12.2 billion euros in 2013, following several years of double-digit growth.

"The Russian sanctions are clearly serious, and they affect almost all types of agricultural products," Gade said. "We hope that a political solution to this conflict will be found as soon as possible at the benefit of all parties involved," he added.

In 2013, Danish agricultural exports to Russia amounted to approximately 4.3 billion kroner, figures from the council show.

Prior to the restrictions, export of pork to Russia was already banned due to the discovery of African swine fever in some EU countries. In 2013, Danish pork exports to Russia amounted to 2.1 billion kroner.

Gade said that Danish food exports are in demand globally, and during the past years a number of new markets have been explored, in particular in Asia.

"However, in the short term there is a risk that world market prices on the restricted products will be affected," he added.

Editor: yan
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