Sign up for our daily Newsletter and stay up to date with all the latest news!

Subscribe I am already a subscriber

You are using software which is blocking our advertisements (adblocker).

As we provide the news for free, we are relying on revenues from our banners. So please disable your adblocker and reload the page to continue using this site.

Click here for a guide on disabling your adblocker.

Sign up for our daily Newsletter and stay up to date with all the latest news!

Subscribe I am already a subscriber
Greece wants expansion aid package

Russian supermarkets adjust growth forecast upwards

According to LTO, the compensation currently offered by the EU to growers is too low. The compensation covers 10-15% of production costs. In Brussels, Agriculture ministers are talking about expansion of the compensation plan today, at the request of Greece. Greece would like peach and mandarin growers to be able to receive compensation as well. Poland sees opportunities in the Ukrainian market. Russian retail isn't encountering difficulties because of the boycott. X5 and Magnit adjusted their growth forecast for this year upwards. The Russian phytosanitary service intercepted contaminated potatoes from Moldova, and contaminated kiwifruit from Iran.

EU compensation insufficient
According to LTO Glaskracht, the compensations offered by the EU are insufficient. Growers get 10-15 percent of the cost price as compensation, for which reason some growers find it more attractive to sell the products at low prices, according to the organization. For dozens of growers who were already in trouble, the boycott is the final straw leading to bankruptcy. The requests for vegetables are filled up in the Netherlands. The 6800 tonnes have mainly been used for winter carrots. There is still room for apple and pear growers. The limit set by the EU is 22,000 tonnes. For the coming year, LTO fears low prices again, which will have significant financial consequences for growers. LTO thinks that collective agreements, for instance on removing products from the market, are the solution to preventing a new surplus.

Greece requests additional EU support
Greece has asked the European Commission for additional support for growers that are hit by the boycott. At the request of Greece, Agriculture ministers of EU member states are discussing additional support for peach and mandarin growers today.

Magnit not suffering from boycott
Russian supermarket chain Magnit is not suffering from the boycott. In the third quarter, sales increased, and the chain is expected to have a larger turnover than expected. Revenue increased by 34% this year, to 4.6 billion dollars. The chain is expected to grow by 31-32% this year, well over the previously forecast 26-29%. The growth is partially caused by the price policy, through which the chain is attracting more cost-conscious consumers.
In general, retailers are profiting from the boycott. Prices of meat and fresh produce have gone up, despite the products being in stock. Supermarket chain X5 also adjusted its growth forecast upwards: from 10-12% to 17-19%.

Poland wants more export Ukraine
The Polish minister of Agriculture said he hoped that Poland and Ukraine could work together more. Poland wants to increase export to Ukraine. According to the minister, Ukraine needs investments and relaxation of trade regulations in order to grow. He hopes Ukraine will open its borders for Polish produce.

Russia declines Iranian kiwifruit
In Nizhny Novgorod, the Russian phytosanitary service has stopped three tonnes of kiwis from Iran. According to the inspection, the shipment was infected with Catalpa Scale (Pseudaulacaspis pentagona). In all, 5 tonnes of fruit and vegetables were quarantined. According to the service, the contaminated kiwis do not pose a risk to Russia.

Russia sends back potatoes
Early this month, the phytosanitary service in Krupets discovered an infection: golden potato cyst nematode in a shipment of potatoes from Moldova. The shipment, 20.95 tonnes, was destined for the Bryansk region. The infected shipment of potatoes was sent back to the exporter.
Publication date: