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Devaluation of rouble would hit painfully Estonian food industry
Juhan Tere, BC, Tallinn, 24.10.2010.
Print version
Print versionThe devaluation of the Russian rouble would hit Estonian food industry painfully since low-income Russians would not be able to buy Estonian dairy products, LETA/Eesti Päevaleht Online reports.
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“We can try to protect the exchange rate that is the basis for supplies with contracts but due to long payment periods, devaluation means that we will get 12-20% less in euros than we planned,” said Jaanus Murakas, board chairman of E-Piim that successfully exports dairy products to Russia.
Dairy products already cost more in Russia than in Estonia but wages and pensions are lower and thus the population cannot handle the price increase that accompanies the devaluation.
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