The European market is a niche market for Russian grain

Published Mar 26, 2024

Tridge summary

The European Union is considering imposing tariffs on grain and oilseed imports from Russia and Belarus, with a proposed duty of 95 euros per ton on grain and a 50% tariff on Russian oilseeds and their products. These measures aim to protect EU farmers from cheap imports and tackle food inflation but are not expected to significantly impact Russia's agricultural exports. Russia, which does not heavily rely on the EU market for its grain and oilseed exports, is likely to redirect its exports to other markets such as the Middle East, Africa, China, and India. The imposition of these duties could, however, lead to higher food prices within the EU and negatively affect European countries that depend on specific Russian agricultural products, potentially exacerbating inflation amidst the ongoing energy crisis.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Europe is again preparing “surprises” for Russia - this time grain duties are on the way. According to the plan, levies of 95 euros per ton will sharply hit the demand for Russian grain in Europe, prices for it will increase by at least 50%. However, this is unlikely to affect Russian exports. Europe is not a key market for Russia. But this will complicate the situation of processors in a number of European countries, and in addition will lead to an acceleration of food inflation. “Grain tax” As the Financial Times wrote, the European Union intends to levy a duty on grain imports from Russia and Belarus: 95 euros per ton of grain from the two countries. The publication explains that the European Commission is ready to take such a step in order to “calm down farmers and some EU member countries.” The European regulator itself has not yet commented on this information. Farmer protests in Europe have been going on for several years, and over the past year the situation has worsened, ...

Source: Zol