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All news / Coordinated EAEU operations contribute to food security all over the Union’s market

  • 19 May 2020, 10:40

 The heads of the EAEU agricultural bodies discussed the food security matters in the context of global coronavirus outbreak at the online Council on Agro-Industrial Policy of the Eurasian Economic Union.

The Russian Minister of Agriculture Dmitry Patrushev presupposes that joint work at the initial stage ensured taking all appropriate coordinated measures to keep food sustainability for the EAEU member states, in particular, the restrictions imposed on the export of essential goods to third countries and the reset of import duties on critical imports. According to the Minister, the results of these resolutions facilitate much the interplay between the Ministry of Agriculture of Russia and other interested bodies aimed at further appending the list of critical import goods.
In addition, the Russian Federation, like other countries of the Union, is taking certain measures to keep the domestic market stable and curb rising food prices. So, the Russian Government has introduced a 7 million ton temporary grain export quota to be effective from April 1 to June 30. The head of the Ministry emphasized that such a barrage is not applicable to the member states of the Eurasian Economic Union.
“Of course, together with the restrictions introduced, we maintain all current state support for agricultural producers. Right now, the Government is considering the Ministry’s proposals aimed at additional support for Russian agricultural enterprises, including small businesses,” proclaimed Dmitry Patrushev. In particular, it’s about probable prolonging of short-term loans and providing deferrals on accrued interest for up to 1 year, as well as deferring interest and main debt payments on investment loans.
These measures well contribute to ensuring the food security in both Russia and the EAEU countries. In addition, these should enable better market administering for the most important products, as well as mitigate the consequences of the present bottlenecks, he concluded. Mr. Patrushev expressed confidence that the meeting would help resolving the food security issues, whilst trade and economic ties within the Eurasian Economic Union should become even closer and mature.