Prices of milk and cheese in the United States fell to five-year lows against the background of the reduction of EU import demand and growth, Bloomberg reported. The main cause of this market situation, the agency believed Grocery embargo imposed by Russia in the summer of 2014, in response to US and EU sanctions.
According to Bloomberg, reports the RNS, delivery of butter from the EU increased by 2015 was doubled, while imports of cheese added 17%, while the stock prices of a number of dairy products have fallen to a minimum since 2011 years. Stocks of cheese in the United States, according to statistics of the American Ministry of Agriculture (US Department of Agriculture, USDA), to maximize with 1984, when Chernenko Soviet rule, and in the US went on sale the first Apple Macintosh. At the same time, American cheese make up just over half of the reserves, 2% Swiss cheeses are classified as remaining listed as "other".
"It is very difficult to export (US -. RNS), in view of the strong dollar, and they go in imports. Where American business loses, Europe wins ", - he told Bloomberg analyst at Rabobank International Bank Kevin Bellamy.
The Russian embargo, as well as the fall in food prices and the weakening of the euro allowed European exporters of dairy products to adjust supply not only in the US but also to the Middle East and Asia, according to Bloomberg. Russian food embargo in August 6 2014 years. The total annual volume of imports, which fell under the sanctions, is estimated at $ 9 billion. The ban has got the majority of types of food and agricultural products from the EU, US, Australia, Norway and Canada.
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