The EU intends to introduce duties on grain from Russia and Belarus in the amount of €95 per ton
Bakery & Bread
Grains, Cereal & Legumes
Russia
Regulation & Compliances
Market & Price Trends
Published Mar 21, 2024
Tridge summary
The European Union is set to impose duties on grain imports from Russia and Belarus, potentially increasing prices by at least 50%. The duties will be €95 per ton for grain and 50% of the cost for oilseeds and their processed products. While this move is expected to support local European farmers, it could lead to higher bread prices in Europe. However, it is unlikely to impact Russian grain prices as Europe is not a key market for Russia's grain, vegetable oil, and meal supplies. Novikova suggests that the market will remain unchanged, indicating no expected decrease in prices.
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
Will bread become more expensive in Europe and will it become cheaper due to unsold prices in Russia and Belarus? The European Union is preparing to introduce duties on the import of grain from Russia and Belarus in the amount of €95 per ton and on oilseeds and their processed products in the amount of 50%. According to the Financial Times (FT), a decision could be made in the coming days, writes NEWS.ru. What restrictions did the EU decide to introduce for Russian grain? According to the Financial Times, the European Commission (EC) intends to introduce duties of €95 per ton on the import of Russian and Belarusian grain. The newspaper's sources expect this to push prices up by at least 50% and "destroy demand." In addition, according to them, duties in the amount of 50% of the cost of goods will also be introduced on oilseeds (peanuts, cashews, soybeans, avocados and many other products) and their processed products. One of the publication’s sources noted that the duty will be ...
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