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Experts mull steps to ease effect of Russian embargo on farmers

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Experts in Hungary are considering steps that could ease the effect of oversupply on European Union markets because of an import ban on a broad range of farm products by Russia, István Jakab, the head of farm association Magosz, said on Tuesday, according to Hungarian news agency MTI.

The some €400 mln to ease the effect of the embargo on European farmers is expected to be too little, Jakab said. He added that analysts may be underestimating the impact of the import ban on Hungarian farmers. Russian Prime Minister Dmitry Medvedev last week announced a one-year ban on fruit, vegetable, meat, fish, milk and dairy imports from the European Union, the United States, Australia, Canada and Norway.

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