Bulgaria has lost some EUR 5 million so far because of the Russian economic sanctions. These losses are increasing due to farm products not sold and the drop of market prices.
100 tons of peaches were given to pigs in one of the farms in the area of Sliven. The EU has promised compensations, but those are not here yet. However, they won’t be enough for the new harvest, as it will be replaced by fruits from Spain and Greece – cheaper ones, because of the larger EU subsidies. Besides that these are to take the Russian market. The Bulgarian producers will have to face new losses, which will get the entire production of fruits into a long-term crisis.
The situation with the Danish pig is much worse than in the case of the Bulgarian one, which is forced to eat peaches only. Denmark will lose due to the Russian embargo worth about EUR 537 million or the double of any preliminary assessments.
The purchase prices of Danish pork have collapsed over the past few months, an article of Jyllands-Posten reports. Today farmers receive EUR 1.26 per kilo on EUR 1.60 a year ago. At the same time consumers are happy with the reduction of the most popular product’s price in Denmark. According to the Statistics Department the export of pork to Russia over the last year brought a profit of some EUR 268.5 million. Russia is the fifth largest country that consumes Danish pork meat.
Holland will also suffer something due to the Russian ban on the import of foods from the EU, as the initial damage is estimated to EUR 300 million, while the overall volume might reach some EUR 1.5 billion, the Central Statistical Bureau of the Netherlands reports. According to its data, the overall profit from the export of agricultural products to Russia has come up to more than EUR 500 million On the other hand, the bureau reports that a total of 5,000 people work at the most affected sectors and their employment is now questionable.
Latvia is also seriously hurt by the Russian embargo. Farmers, producing fruits and vegetables are forced to give them away for free. However, a large amount of the production will have to be liquidated, as the market is oversaturated.
English version: Zhivko Stanchev
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