Italy warns of EUR200m hit from Russia ban

 The expense to Italy's food and rural area of Russia's limitations on EU imports could be EUR200m (US$253.9m), Italian makers have cautioned.

Italy's food maker affiliation Coldiretti said Italian food commodities to Russia fell 63% in August contrasted with that very month the earlier year after Moscow's prohibition on EU meat, fish, dairy items, products of the soil.

Russia said the boycott would keep going for a year. Lorenzo Bazzana, head of financial aspects at Italian food industry affiliation Coldiretti, expressed: "Commodities to Russia for the whole food area impacted by the boycott added up to EUR167m last year and we gathered the figure together to EUR200m to incorporate potential market development."

Italian food commodities to Russia most impacted are products of the soil, worth EUR72m in 2013. Shipments of restored and new meats were worth EUR61m last year, while Italy Solid Fats Market traded EUR45m of cheddar and dairy, worth EUR45m to Russia in 2013. Deals of significant Italian topographical assignments, for example, Parma ham and Grana Padano have endured, with Parmigiano Reggiano and Grana Padano products to Russia worth EUR15m last year, while Prosciutto di Parma deals in Russia were worth EUR2.5m.

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