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Latvian fish canneries and dairy companies are likely to suffer most due to Russia's import ban, the head of the Centre for Promotion of Agricultural Markets, informs LETA.
Latvia's fish canneries and dairy producers most vulnerable to Russian sanctions
© ELTA

The Centre's spokeswoman Inguna Gulbe explains that food producers in general have the opportunity of diversifying their export markets, while canned fish producers have no such opportunity, as their only export markets are in Russia and CIS countries. Other markets are not interested in these products. In order to find new export markets, fish processing companies would have to launch very expensive marketing campaigns.

Another food production business that could suffer from Russia's sanctions is dairy companies.

She said that different companies will face different consequences, as the proportion of Russian market in food export countries, varies. Furthermore, Russia's restrictions would also affect Russian-owned companies in Latvia.

Gulbe indicates that Latvian producers have previously faced various restrictions in the Russian market and have managed to re-orientate to other export markets.

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