Russian food embargo a big blow for EU producers

PARIS, Aug 8 (AFP): Russia's embargo against food from the European Union will affect 10 per cent of the EU's food exports and may cause a crisis of glut in Europe, industry experts said yesterday.

The figures, at face value, mean that Russia's announcement on Thursday of a "full embargo" against EU food will deprive Russians of fresh goods in particular.

But it will also have a significant effect on many exporters who will now have to find new outlets and may lose markets to rivals in emerging countries.

European Union ministers are planning a meeting next week to "evaluate" the potential impact of the sanctions, said France's Agriculture Minister Stephane Le Foll.

The EU's ambassador to Russia, Vygaudas Usackas, said the bloc is also considering appealing to the World Trade Organization over the import ban.

Russia imports 35 per cent of the food it consumes, and imports 10 per cent of its needs worth 12 billion euros ($16 billion) a year from the European Union, official EU statistics show.

Among the 18 EU countries, Germany and the Netherlands are among its biggest suppliers.