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US: Ag industry to benefit from Russia WTO membership

Russia is expected to complete its full accession into the World trade Organisation later this year after formally being approved late last year.

This could be good news for agricultural trade as tariffs have already balun to be reduced.

Trade analyst Eric Trachtenberg, said  "Apple tariffs will go down, pear tariffs will go down, tree nuts... These are meaningful benefits for people looking to seek overseas markets for U.S. products."

"It is still a large country and there's economic growth, especially in the larger cities," Trachtenberg said. "There's rising disposable income, increasing real wages, and still falling unemployment and there is a dynamic and growing retail sector. There is strong product demand, some of it will come from direct sell to customers, some of it will come from increasing inputs to food processing."

Source: farmfutures.com


Publication date: 3/23/2012


 


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