The EU closes the import of agricultural products from Russia, including oil crops
12.06.2024 - 16:10
The European Union stops the import of Russian agricultural products, including oil crops.
From July 1, the EU will introduce prohibitive tariffs on the import of agricultural goods from Russia and Belarus, reports “Ukragrokonsult”.
Prohibited goods include sunflower seeds, wheat, corn, dried peas and derived products, as well as feed products.
The size of the duty can be up to 95 euros per ton. The introduction of similar measures for any other food products from Russia and Belarus is also currently under discussion.
In fact, the imposition of the tariff will close the access of Russian products to the EU markets. Among the oil group, rapeseed and sunflower meal are traditionally the most significant for the EU. Their share in total imports of the current season (as of May 28, 2024) is 41% and 26%, respectively.
On the part of Russia, the export of all types of meal to the EU takes a significant share in the total export: sunflower meal — 42%, soybean meal — 37%, rapeseed meal — 65%.
It will be recalled that on May 30, the European Council approved a resolution on the collection of additional customs duties on agricultural products imported from Russia and Belarus. In addition, these goods will be deprived of access to EU tariff quotas.
