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Loss to Germany

Loss to GermanyLoss to Germany

The Russian ban on food imports from Europe dealt a devastating blow to German agriculture, sending prices on some produce tumbling down, the head of the German Farmers’ Union complained Friday, Sputnik reported. German farmers suffered nearly €600m ($635m)  in losses in 2014 after Russia banned European Union food imports in a tit-for-tat move for sanctions imposed on it over Ukraine, German Farmers Union president Joachim Rukwied told Deutsche Welle. The price for German-produced milk went down four cents per liter while that for a kilo of pork dipped below €1.4, Rukwied said. He earlier complained also about the falling prices for apples, which equally nosedived after Russia banned the import of apples from Poland. In August 2014 Russian President Vladimir Putin announced bans or limits on food and agricultural imports from countries that had imposed sanctions on Russia over its alleged involvement in the conflict in eastern Ukraine.

 

Financialtribune.com