Even before Russia announced its one-year ban on food imports from the US, EU, Canada, Australia, and Norway on August 7, it was lining up alternative sources for meat, poultry, fish, fruits and vegetables. Latin America, in particular, looked likely to gain export trade.
Now, as the Datamyne blog reports, our Argentine trade data shows the growth in this trade already well under way for the month of August. Comparing the data for August 2014 with August 2013, the value of Argentine exports to Russia overall increased 37% – while the value of food exports surged 51%.
The data shows exports of boneless, frozen beef (HS020230) up 438% last month compared to August 2013. Chicken cuts (HS020714) increased 127%.
Interestingly, the trade data for July, which shows just under a 4% increase in Argentine exports to Russia overall compared to July of the previous year, clocks a 543% increase in boneless, frozen beef.
Argentina is not the only Russian trading partner stepping up exports. Datamyne’s Brazilian trade data shows increases in exports to Russia of 22% for boneless, frozen beef (HS020230), 96% for swine meat, frozen (HS020329), and 50% for chicken cuts (HS020714) in August 2014 over August 2013.
Sanctions imposed on both sides of the Ukraine dispute will continue to roil import-export markets – Datamyne’s multinational trade database provides the earliest available information on gains (and losses) not only in Latin America, but the US, EU, and key Asian and African trading nations.
~ Courtesy Datamyne Blog