Czech food firms to lose Kc300m in sales on sanctions this yr


18.08.2014 13:34

Prague - Czech exporters of agricultural commodities and food products will lose Kc250m to Kc300m in sales by the end of this year due to the sanctions on exports to Russia, the Agriculture Ministry said on its website today.


Nákup potravin, zákazník s košíkem - ilustrační foto. ČTK-AP

Czech dairies will be hit the hardest. The expected surplus of the goods on the EU markets may cause even more problems to the companies.

Dairies export to Russia in particular dried milk, whey, cheeses and frozen butter. Producers of poultry and rabbit meat, canned meat, pates and ice cream are also among the companies whose sales will fall markedly.

Russia two weeks ago banned imports of meat, fish, milk, dairy products, fruit and vegetables from the EU and USA in retaliation for the West's sanctions.

The EC today allocated EUR125m (almost Kc3.5bn) for help to EU farmers hit by the Russian embargo.

Russia is the Czech Republic´s most important trading partner outside of the EU in the area of agricultural trade in the long term.

The Czech Republic exported agricultural and food commodities for Kc2.4bn to Russia last year, while imports of these goods were worth only Kc300m.

Among the most important items in Czech exports to Russia are beer, sweets without chocolate and poppy.

Animal nutrition supplements and food preparations have been exported to Russia to a larger extent since 2009 as well. Exports of biscuits and eggs also grow since 2010.

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