EU Doubles Grain Purchases from Russia
In June, the European Union significantly increased its imports of grain from Russia, almost doubling the value from €6.5 million in May to €11.8 million, according to Eurostat data. The physical volume of these imports also grew, though to a lesser extent, reaching 43,400 tons compared to 32,800 tons in May. This marked the highest levels of grain imports from Russia since March.
Wheat imports were the most substantial, increasing by 2.4 times to €9 million, followed by buckwheat, which saw a 2.6-fold rise to €720,000. Italy emerged as the primary importer in June, with its purchases increasing fivefold to €7.2 million.
On July 1, the EU implemented higher tariffs on the import of grains, oilseeds, and their processed products from Russia and Belarus. These tariffs have risen to either €95 per ton or up to 50% of the import value, depending on the specific product.
Wheat imports were the most substantial, increasing by 2.4 times to €9 million, followed by buckwheat, which saw a 2.6-fold rise to €720,000. Italy emerged as the primary importer in June, with its purchases increasing fivefold to €7.2 million.
On July 1, the EU implemented higher tariffs on the import of grains, oilseeds, and their processed products from Russia and Belarus. These tariffs have risen to either €95 per ton or up to 50% of the import value, depending on the specific product.