Title: Multi-Country Ban on Ukrainian Agricultural Products Causes Severe Losses to Ukrainian Agricultural Enterprises
Date: July 24, 2021
According to a report by CCTV news, the Ukrainian Agricultural Council’s Vice Chairman, Marchuk, has revealed that Poland, Slovakia, Hungary, Bulgaria, and Romania have imposed restrictions on Ukrainian agricultural products, leading to significant financial losses for Ukrainian agricultural enterprises. Marchuk has appealed to the European Commission to fulfill its obligations within the framework of trade relations with Ukraine and refrain from expanding the ban on Ukrainian products.
Since the escalation of the Ukrainian crisis, Ukrainian agricultural products have faced logistical challenges that have resulted in a surplus being sold only in Eastern European countries. This surplus has had a direct impact on local agricultural product prices. On May 2, the European Commission announced temporary restrictions on the free trade of four Ukrainian agricultural products in Bulgaria, Hungary, Poland, Romania, and Slovakia. These restrictions have recently been extended until September 15.
The continuous ban on Ukrainian agricultural products by multiple countries has dealt a severe blow to Ukrainian agricultural enterprises, exacerbating their financial struggles. The affected sectors include crops, livestock, and dairy products, which rely heavily on export markets. The Ukrainian government has expressed concern over the negative consequences this ban will have on the country’s agricultural industry.
The restrictions imposed by Eastern European countries have disrupted the established trading relationships that Ukraine had developed with these nations. Ukrainian agricultural producers now face difficulties in finding alternative markets for their products, which has severely impacted their profitability. The European Commission’s intervention is seen as critical in resolving this issue and restoring the smooth flow of Ukrainian agricultural goods to these markets.
Ukraine’s agricultural industry is a significant contributor to its economy, and any disruptions in trade relations have far-reaching consequences. It is hoped that the European Commission will carefully consider the appeal made by Marchuk and take necessary measures to prevent further damage to Ukrainian agricultural enterprises.
Source: Jiemian News, Interface News