Ukraine to compete with Russian agricultural products in Africa and Asia after EU ban

The EU’s ban on imports of agricultural products from Russia will not have a large-scale impact, as the share of Russian exports to the EU is insignificant.

This was stated by Volodymyr Slavinsky, NIBULON’s Trade Director, in a commentary to Forbes.

According to him, Russia is one of the largest agricultural exporting countries in the world, but it supplies relatively little to the EU market. Most of all, the EU imports rapeseed and sunflower meal from Russia – 40% and 20% of total imports. russia also covers 8% of wheat imports to the EU and 3% of corn.

In total, last year, Russia exported 4.2 million tons of grains, oilseeds and processed products to the EU for €1.3 billion, which is 5.5% of the region’s agricultural imports, according to Eurostat. Ukraine’s share was 40% (35.4 million tons worth €9.4 billion).

“The EU will be looking for ways to replace sunflower meal with products from Ukraine, Romania, and Bulgaria,” Slavinsky says.

He predicts that Russia will redirect its agricultural exports to other markets, where it will increase competition with Ukrainian producers.

“In South Africa or the Middle East, we will have to compete with the Russians in tougher conditions, when they will be looking for alternative sales routes,” he says.

Tags: Asia, Ukraine, Russia, grain, EU, oilseeds, Nibulon, Africa, restrictions