Czerván: the Russian embargo re- organized the markets

The Russian embargo on food re- organized the markets. The European exports to Asian countries moved towards Japan, China, Hong Kong and South Korea – Czerván György, Minister of State of the Ministry of Agriculture (FM) said at the conference of the Livestock and Meat Interprofessional Organization and Marketing Board ( VHT) in Budapest.

The Minister of State added that Hungary has good bilateral relations with the Russians, however, the embargo was initiated at EU level. He noted that the embargo is bad for all parties: to Hungary to the EU and to Russia. About 3 percent of the Hungarian agricultural exports were directed to Russia, according to the 2013 data, about a third of this has been affected by the embargo, which represents approximately 80 million euros from the entire Hungarian agricultural exports to Russia wotrth about 267 million euros. (MTI)