Friday, August 08 10:11:48
Russia's retaliatory ban against sanctions imposed by the EU and US will affect some E70m worth of Irish exports, according to Bord Bia today.
Speaking on RTE radio this morning, Aidan Cotter said Ireland was facing into a period of uncertainty in the short-term as well-established trading patterns were disrupted.
"We're left with about E70m worth of exports that are affected by the latest sanctions that have been imposed by Russia," he said.
"About E40m of those are in the dairy area, mostly milk powders, but also cheese, also E20m in seafood and E10m in beef."
Mr Cotter said, however, that a little over E100m worth of exports to Russia were not affected.
He said about 12 processing plants in Ireland in the dairy, seafood and beef sectors had already had temporary bans placed on them by Russia before these latest restrictions.
"Adjustments will have been taking place in recent weeks and months because 12 processing plants in Ireland in the dairy, seafood and beef sector had already temporary bans placed on them by Russia," Mr Cotter added.
"So some exporters will already have been seeking out alternative outlets in that period."