Russia Food Ban Affecting Consumers There

Taylor HillmanGeneral

Bans of agriculture imports a couple weeks ago by Russia has consumers already paying a price. The ban on food imports from Europe and the U.S. already has suppliers facing shortages and price hikes on staples such as fish and fruit, according USA Today.

Suppliers have raised prices for some fish by 20-36%. Suppliers reported shortages and higher prices for fruit, retailers braced for milk prices to go up, and some meat suppliers were engaging in price speculation, according to reports from Russia. Russia is one of the world’s leading importers of food, and its ban on fruit, meat, poultry, fish and milk products is hurting European suppliers, but the ban is also hurting Russians who have acquired a taste in recent years for imported European products.

Retailers were expected to publish list of their current imported stock and when they expected to sell it. A Russian newspaper reported police would raid stores found to be carrying banned goods that were not disclosed. Russia’s Central Bank warned last week that the sanctions are likely to increase an already rising inflation rate. Russia’s state-owned media have touted the import ban as a boon for local industry.