Russia food ban triggers new trade potential for shipping
Action against European and US food sparks formation of new trades
A Russian embargo on European Union (EU) and US-produced fruit, dairy, meat, fish and vegetables is creating new trade patterns that offer opportunities for containers and reefers, according to various industry sources.
The ban, imposed in August in retaliation for Western sanctions over Moscow’s actions in the Crimea and Eastern Ukraine, is supposed to last for 12 months.
“Everything that Russia needs, it will now have to get from farther away,” a European reefer manager told TradeWinds. Food such as apples, which Russia used to get overland from Poland, will now have to be transported by ships from countries halfway across the world, such as Argentina.
The new situation was palpable at World Food, Russia’s biggest food product exhibition, which took place in Moscow between September 15 and 19.