According to the German FAZ, Russia imported food for 43 billion USD in 2013, of these 16 billion USD were paid for EU products.
Around 30-50% of fish, beef and vegetables are imported, in addtion diary products. The domestic agricultural industry is still not able to provide sufficient amounts, hence, redcution of imports will very likely lead to higher inflation, which is already around 8%.
However, according to various sources Russia was a net-exporter of grain 2013, the harvest in 2014 seems to be very good, therefore, no change expected.
Bookmarks