Wednesday, November 30, 2022

Stevenson Bucks Putin’s Import Ban with Expansion

by

Darrell Stevenson stands to benefit from ban on imports into Russia.

The following is portion of an article from Bloomberg.

by Jason Corcoran and Ryan Chilcote

Montana lone ranger Darrell Stevenson knows it’s wise to drink upstream from the herd.

When Russian President Vladimir Putin banned U.S. and European meat last week, the third-generation cowboy already had a leg up on the competition. With a ranch 550 kilometers (340 miles) south of Moscow, he stands to benefit from a market increasingly walled off from foreign rivals after Russia struck back against countries that imposed penalties over Ukraine.


“Sanctions in the long run aren’t good for anyone,” Stevenson said by phone after a 30-hour journey back to Hobson, Montana, from St. Petersburg on Aug. 9. “In the short term, they’ll stimulate the growth and development of domestic herds. Within a year, a considerable amount of Russian-raised beef will be available.”

Russia is scouring the world for produce ranging from Chilean salmon to Egyptian oranges to fill a $9.5 billion hole left by restrictions on food imports imposed last week. Much closer to home, the ranch near Voronezh run by Stevenson and his partners is jumping into the fray to help feed a nation of 143 million that imports about 40 percent of its beef.

CLICK HERE to read the remainder of this article.

 

Source: Bloomberg

Posted by Haylie Shipp

 

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