International Internet Magazine. Baltic States news & analytics
Friday, 22.08.2014, 00:59
Russian Agriculture Minister Nikolai Fyodorov warned Wednesday that Moscow must spend billions of dollars in the coming years subsidizing farmers in order to avoid a shortage caused by its ban on most Western food, reports AFP/LETA.
Keyword tags: Agriculture, Baltic States – CIS, EU – Baltic States, Financial Services, Legislation, Markets and Companies
According to the calculations of Lithuanian Agriculture Minister Virginija Baltraitiene, losses of Lithuanian dairy and meat producers may possibly amount to LTL 500 million (EUR 145 million), because of food product embargo imposed by Russia, reports LETA/ELTA.
The Government of Lithuania will consider to partially compensate dairy and meat producers for losses, informs LETA/ELTA.
A mandatory requirement has been announced in Lithuania to register all pigs by 15 September, 2014. Registration will be free of charge, reports LETA/ELTA.
The cooperative society of agricultural services Latraps has come up with new development plans. In order for them to see fruition, DNB banka has issued a EUR 10 million loan to Latraps, DNB banka spokeswoman Teika Lapsa informed the business portal Nozare.lv, cites LETA.
Because of Russia's embargo on import of dairy products, Latvian dairy farms and companies could receive aid in the amount of EUR 13 million already this September or October, Agriculture Minister Janis Duklavs (Greens and Farmers' Union) said during the Latvian Agricultural Organizations' Cooperation Council meeting today, informs LETA/Nozare.lv.
Certain amounts have been earmarked in the state budget that could be used to aid the agriculture sector following Russia's food embargo, however, it is too early to mention any amounts, Prime Minister Laimdota Straujuma (Unity) said in an interview with the LNT show "900 sekundes" this morning, informs LETA.