The National Union of Poultry Producers asked the Ministry of Agriculture to ban the export of feed wheat and corn, together with the poultry equipment and veterinary medicines.
Such measures are necessary to lower production costs, explains the Union in aletterquoted by Interfax. Increases in production costs could lead to rise in prices.
Poultry farmers suggest banning the export of feed grain to all countries, with authorization regime applied to the EEU countries.
The National Union of Poultry Producers also asked to ban the export of sunflower oil, soybean meal, premixes, amino acids, vitamins used in production of farm animal feed.
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Russia is making new agreements with food suppliers, and sanctions won’t lead to domestic agri-food market isolation, Deputy Prime Minister Viktoria Abramchenko said in a statement. She asked not to drive up artificial demand with purchases for the future and said that there are no conditions for risks of a shortage or for a reduction in product range.
“Russia has been providing itself with all basic food products and has been increasing the deliveries of import to saturate the market with different products and increase the assortment for the Russian consumer. But it is not worth driving up artificial demand with purchases for the future. There are.
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While Russia is managing the crisis to support its economy from the impact of Western sanctions, countries around the world are beginning to feel the effect of those sanctions on their own economies. Economists are raising concerns of an upcoming global recession as financial turmoil intensifies.
Anti-Russia sanctions’ impact on global economy
Sanctions imposed by the West against Russia will have a bigger impact on global gross domestic product (GDP) than the conflict in Ukraine itself, World Bank said on Monday. The International Monetary Fund (IMF) has also warned of a ‘severe impact’ on the global economy and financial markets, saying.
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China’s Foreign Exchange Trade System (CFETS) has set a wider trading band between the Chinese RMB Yuan and Russian Ruble stating this was “in accordance with the requirements of market development”.
It widens the daily trading band for the RMB exchange rate with the Ruble, allowing the currency cross to trade 10% in either direction of a daily midpoint set by China’s central bank, up from the previous 5%. CFETS said the new trading band was set “with the approval of the People’s Bank of China and the State Administration of Foreign Exchange”. The move took effect from Friday.
The trading band change is a practical response.
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Total meat and poultry production in 2022 is forecast to be 16 million tons, and 32,5 million tons for dairy. It is higher than last year, said Dmitry Patrushev, the Russian Prime Minister of Agriculture, at the President’s meeting with the members of the Government as reported by Interfax.
5.1 million tons of fisheries catches are forecast in 2022. Total production of aquaculture to be 387 thousand tons. “It is also higher than last year,”saysDmitry Patrushev.
Crop yield is predicted to be 123 million tons.
The Head of the Ministry of Agriculture underlined that local food producers meet the population’s needs for basic food products,.
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Global food and feed prices could rise 8-22% amid grain trade disruption.
The United Nations’ agricultural body warns disruption to world grain supply as a result of the Russia-Ukraine crisis could push up food and feed prices by as much as 22%.
Russia and Ukraine are “significant” producers of barley, wheat and maize, accounting for 19%, 14% and 4% of global output, respectively, according to the UN’s Food and Agriculture Organization. More than half of the world’s sunflower oil production came from the two countries in the study periods 2016-17 and 2020-21, it said.
Meanwhile, rapeseed and soybean production.
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Washington’s embargo also includes Russian vodka.
US President Joe Biden has signed an order to ban imports from “signature sectors of the Russian economy”, including seafood.
The embargo, announced on Friday, is part of Washington’s efforts to “ramp up the economic pressure on Putin and to further isolate Russia on the global stage”, Biden said.
There is also set to be a ban on the export of luxury US goods to Russia. “They’re not the last steps we’re going to take,” Biden said.
According to data from US government agency The National Oceanic and Atmospheric Administration (NOAA), Russia was the 11th.
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Businesses may be subject to bankruptcy within six months, finance ministry says
Enterprises of foreign companies that have pulled out of Russia may be subjected to bankruptcy proceedings, according to Russian Finance Minister Anton Siluanov. He said on Monday that the insolvency procedure for such businesses could take from three to six months.
At the same time, the minister said,“Russia wants foreign companies to continue to operate in the country,”noting that their departure“is not beneficial to anyone.”
Earlier, the Ministry of Economic Development expressed hopes for the return of a significant part of foreign businesses to.
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