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Australia Counts the Cost of Russian Food Import Ban

Sustainability Economics Politics +4 more

AUSTRALIA - The Government is currently assessing the likely impact of the Russian Federation ban on imports of certain agricultural products, raw materials and foodstuffs from Australia.

The immediate focus, according to the Australian Government, is to manage those exports that are currently at sea or in transit to Russian markets and assist exporters in redirecting them, wherever possible, to alternative destinations.

According to the Department of Agriculture, total agricultural trade with Russia was valued at A$404.7 million in 2013.

Of this 2013 total, the majority of the value was in the category of 'meat, livestock and animal products', which was valued at A$309.9 million. This is followed by dairy (A$78.1 million); seafood (A$0.5 million) and cereals, crops & pulses (A$0.2 million).

In the 2013-14 financial year, Russia accounted for an estimated one per cent of total Australian agricultural exports, placing it 18th overall as an export destination for Australian producers.

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