Tasmanian Farmers and Graziers Association commodity groups are collating data to assess the impact of Russia’s newly-imposed embargo on food imports from Australia in retaliation for trade sanctions imposed against Russia over its incursion into Ukraine.
According to TFGA chief executive Jan Davis, the immediate, direct impact will be minimal since there is only small trade with Russia, mainly in dairy products and very little in vegetables.
“However, our main concern is likely to be in the so-called knock-on effects,” she said. “This involves the reshuffling of trade that inevitably follows such embargoes. As people lose a market, they look for other opportunities that will impact on the current players there.
“Very often a trade deal involves subsidiary or allied agreements that rattle the cage in other sectors,” she said. “That’s what we have to assess.
“With the National Farmers’ Federation, we will be looking to the Australian government for guidance on the likely market ramifications.
Ms Davis said it was at times like this that Australia needed strong and equitable bilateral trade agreements in place so that any pain or restructuring could be shared.
TFGA chief executive Jan Davis
