How Will the Russia Ban Impact the Protein Markets?
Late last week Russian President Vladimir Putin ordered restrictions on imports of agricultural and seafood products from the U.S. and the European Union for imposing economic sanctions on Russia as a result of Russian incursions in Ukraine. The announced one-year embargo on meat, dairy, produce and seafood imported from the US, EU, Australia, Canada and Norway is expected to take a toll, however, just how much and what proteins are affected have been a topic of discussion since the announcement.
Immediately after the decree, the National Chicken Council and USA Poultry and Egg Export Council issued a statement to inform that the restrictions of U.S. poultry imports will not have a major impact on the U.S. industry.
“The biggest impact, we believe, will be on Russian citizens who will be burdened by higher prices for all food products, especially...
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