Russian poultry industry takes a hit

The poultry industry in Russia needs to find alternative sources of feed additives, hatching eggs, equipment, package and labels, as deliveries from Western countries are halted or disrupted. The current crisis is the biggest challenge Russian poultry farmers have faced since Soviet times. The Russian invasion of Ukraine provoked a mass exodus of Western companies from the Russian market. At the time of writing, 500 Western brands had publicly announced a decision to pull out of the country. Unprecedented Western sanctions have hit the logistics and financial sectors, as the world’s leading sea transport companies cancelled bookings to and from Russia, with 70% of the Russian banking system subjected to restrictions. The sanctions list is not final, as the US and the European Union keep mulling over new economic blows to Russia. Russia has spent years trying to wean itself off imported foodstuffs to fortify its economy against Western sanctions. In 2018, Russian President Vladimir ...