Russia put sanctions on meat products not only from the U.S. but from other countries as well and now it look like they're hurting.
The following article is from the NAFB News Service:
A leader for a Russian meat association is warning Russian President Vladimir Putin the industry is in crises and in a public letter warned of an industry default without government assistance. Meatinglace reports the recent bans by Russia on imports of beef, pork and poultry have increased prices to processors by 12 to 14 percent. The one year bans were part of sanctions on Australia, Canada, the United Stated and the European Union in retaliation for those countries sanctions in regards to Russia’s conflict with the Ukraine. On top of earlier price increases, processors in Russia are dealing with an increase in raw materials prices of between 62 percent and 67 percent this calendar year, according to the public letter released by the National Union of Processors in Russia.
The group believes the Russian government has an unofficial ban on increasing retail prices for fear of stirring social upheaval. They are seeking tax breaks or a gradual increase in the retail price of meat products to return the processing sector to profitability.
Source: NAFB News Service
Posted by Haylie Shipp