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Russia looks for new baby food packaging suppliers as sanctions bite

(Reuters) - Russia is looking for suppliers of packaging for baby food and dairy products due to disruption in supplies caused by the Western sanctions imposed on Moscow, the...
Russia looks for new baby food packaging suppliers as sanctions bite

(Reuters) - Russia is looking for suppliers of packaging for baby food and dairy products due to disruption in supplies caused by the Western sanctions imposed on Moscow, the country's agriculture minister, Dmitry Patrushev said on Wednesday.

Russia is a major global agriculture producer but the sanctions, imposed by Western countries over the Ukraine crisis, have caused supply disruptions and prompted some foreign suppliers to leave the market.

"As for dairy products and baby food, I would like to note the following: in order to maintain stability in this segment due to restrictions on imports of packaging and a number of ingredients for baby food production, we are working with the business community and the trade ministry to find opportunities to replace foreign suppliers of packaging," Patrushev told a government meeting.

Patrushev also said that the agriculture ministry had proposed that the government should set up export quotas for sunflower oil to "maintain the stability of situation."

Ukraine and Russia are the world's largest sunflower oil producers. India imports more than 90% of its sunflower oil from them, though sunflower oil accounts for 14% of its total edible oil imports.

Many Russians have rushed to buy sugar, buckwheat and salt after sanctions weakened the rouble and sent food prices higher in late February-March.

The authorities have repeatedly told people there is no need to stockpile food products.

"Russia is fully self-sufficient in the main foodstuffs. There are sufficient stocks in warehouses and distribution centres, which are constantly replenished," Patrushev said.

"In general, the Russian agriculture industry is coping with significantly increased demand for food products," he added.

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01-05-2024 10:45:17 (UTC+7)

EUR/USD

1.0658

-0.0008 (-0.07%)

Summary

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Sell (12)

Indicators:

Buy (2)

Sell (3)

EUR/USD

1.0658

-0.0008 (-0.07%)

Summary

↑ Sell

Moving Avg:

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Sell (12)

Indicators:

Buy (2)

Sell (3)

GBP/USD

1.2475

-0.0015 (-0.12%)

Summary

↑ Sell

Moving Avg:

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Sell (12)

Indicators:

Buy (0)

Sell (10)

USD/JPY

157.91

+0.12 (+0.07%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

AUD/USD

0.6469

-0.0003 (-0.05%)

Summary

Neutral

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (2)

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USD/CAD

1.3780

+0.0003 (+0.03%)

Summary

↑ Buy

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EUR/JPY

168.32

+0.10 (+0.06%)

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↑ Buy

Moving Avg:

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EUR/CHF

0.9808

+0.0001 (+0.01%)

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Gold Futures

2,295.80

-7.10 (-0.31%)

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Sell (9)

Silver Futures

26.677

+0.023 (+0.09%)

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Copper Futures

4.5305

-0.0105 (-0.23%)

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Crude Oil WTI Futures

81.14

-0.79 (-0.96%)

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Brent Oil Futures

85.62

-0.71 (-0.82%)

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Natural Gas Futures

1.946

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US Coffee C Futures

213.73

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Euro Stoxx 50

4,920.55

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S&P 500

5,035.69

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DAX

17,921.95

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FTSE 100

8,144.13

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Sell (4)

Hang Seng

17,763.03

+16.12 (+0.09%)

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↑ Sell

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US Small Cap 2000

1,973.05

-42.98 (-2.13%)

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IBEX 35

10,854.40

-246.40 (-2.22%)

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Neutral

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BASF SE NA O.N.

49.155

+0.100 (+0.20%)

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Bayer AG NA

27.35

-0.24 (-0.87%)

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Allianz SE VNA O.N.

266.60

+0.30 (+0.11%)

Summary

↑ Sell

Moving Avg:

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Adidas AG

226.40

-5.90 (-2.54%)

Summary

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Deutsche Lufthansa AG

6.714

-0.028 (-0.42%)

Summary

Neutral

Moving Avg:

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Siemens AG Class N

175.90

-1.74 (-0.98%)

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Deutsche Bank AG

15.010

-0.094 (-0.62%)

Summary

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Moving Avg:

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Indicators:

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 EUR/USD1.0658↑ Sell
 GBP/USD1.2475↑ Sell
 USD/JPY157.91↑ Buy
 AUD/USD0.6469Neutral
 USD/CAD1.3780↑ Buy
 EUR/JPY168.32↑ Buy
 EUR/CHF0.9808Neutral
 Gold2,295.80↑ Sell
 Silver26.677↑ Sell
 Copper4.5305↑ Buy
 Crude Oil WTI81.14↑ Sell
 Brent Oil85.62↑ Sell
 Natural Gas1.946↑ Sell
 US Coffee C213.73↑ Sell
 Euro Stoxx 504,920.55↑ Sell
 S&P 5005,035.69↑ Sell
 DAX17,921.95↑ Sell
 FTSE 1008,144.13Sell
 Hang Seng17,763.03↑ Sell
 Small Cap 20001,973.05↑ Sell
 IBEX 3510,854.40Neutral
 BASF49.155↑ Sell
 Bayer27.35↑ Sell
 Allianz266.60↑ Sell
 Adidas226.40↑ Sell
 Lufthansa6.714Neutral
 Siemens AG175.90↑ Sell
 Deutsche Bank AG15.010Neutral
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SJC Eximbank8,300/ 8,500
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SJC 1L, 10L, 1KG8,300/ 8,520
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SJC 1c, 2c, 5c7,380/ 7,550
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SJC 99,99%7,370/ 7,470
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SJC 99%7,196/ 7,396
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Cập nhật 01-05-2024 10:45:19
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RON 95-V25.44025.940
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USD25.088,0025.458,00
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GBP30.873,5232.211,36
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KRW15,9219,31
Cập nhật lúc 10:45:15 01/05/2024
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