Economist: Russian Ban On Imports Will Hardly Impact Louisiana
Louisiana farmers will see minimal impact from Russia’s decision to ban food imports from the United States for one year.
That’s according to LSU AgCenter economist Kurt Guidry, who says over the past 5 years, Russia has been a relatively minor customer for most U.S. agricultural products.
"Total agricultural and food product sales to Russia only account for 1 percent of our total U.S. export."
“Total agricultural and food product sales to Russia only account for 1 percent of our total U.S. export,” Guidry said.
Russia’s “full embargo” on food imports from the U.S., Europe and other western countries is in response to sanctions over its crisis in Ukraine.
Guidry says Russia is a bigger player in the livestock and poultry markets, which could lead to some short-term effects to poultry and livestock prices.
“I think that’s going to be so diluted that we won’t really see much of an impact to our producers,” Guidry said.