EU is discussing raising duties on food and fertilizers from Russia and Belarus

The European Union is discussing the extension of protective duties on agricultural and food products, as well as fertilizers from Russia and Belarus. Bloomberg writes about this, citing sources.

Several member states seeking to limit the Kremlin’s revenues are calling on the bloc to impose large-scale duties on imports of agricultural and fishery products from Russia and Belarus into the EU in addition to the higher duties on grain products imposed earlier this year.

Others are calling for caution, asking that the impact of any measures on European imports and food prices be assessed first, the sources said.

Trade restrictions do not always require the support of all member states, unlike sanctions.

The EU is still analyzing which products it can target. Any move on fertilizers is likely to be welcomed by the European industry, the agency said.

Russia is the world’s largest fertilizer exporter with an 18% market share. Although the industry is not under sanctions, it was forced to cut exports in the wake of Russia’s invasion of Ukraine in 2022 due to logistical and payment problems.

Since then, exports have recovered and are expected to reach the record levels of 2021 this year.

However, according to one source, the timing of the new duties is still unclear, given legal and political obstacles.

For almost 30 years of expertise in the agri markets, UkrAgroConsult has accumulated an extensive database, which became the basis of the platform AgriSupp.

It is a multi-functional online platform with market intelligence for grains and oilseeds that enables to get access to daily operational information on the Black Sea & Danube markets, analytical reports, historical data.

You are welcome to get a 7-day free demo access!!!

Tags: restrictions, Russia, EU, fertilizers