Negosyante News

November 5, 2024 10:00 pm

EU Sets New Limits on Ukrainian Agricultural Imports Amid Farmer Concerns

The European Union has reached a consensus on imposing stricter import quotas on certain Ukrainian agricultural products, including poultry, eggs, sugar, maize, groats, and honey. This decision, articulated by Belgium, the current EU presidency holder, modifies the existing duty-free arrangement extended to Ukraine following Russia’s 2022 invasion, without affecting wheat imports.

The move comes as EU lawmakers prepare for the upcoming June elections, with many aiming to demonstrate their support for European farmers. These farmers have expressed discontent over low earnings, attributing part of their plight to the influx of competitively priced Ukrainian agricultural goods.

Although the preliminary deal still requires formal endorsement, it has already secured approval from EU ambassadors and awaits ratification by a European Parliament committee. The new caps are expected to reduce Ukrainian farm export revenues in the EU by approximately 240 million euros compared to 2023, amidst Ukraine’s claims that its agricultural exports constitute only a minor fraction of the EU market.

The agreement is part of the EU’s broader strategy to balance support for Ukraine with the economic interests of its own agricultural sector, highlighting the EU’s capacity for rapid intervention in case of market disruption caused by Ukrainian imports.

Despite these measures, there are voices within the European farming community, such as the COPA-COGECA union, arguing that the restrictions do not adequately address the challenges posed by Ukrainian agricultural products in the EU market.

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