Belarus to Russia: upset because of ruble devaluation
Belarusians hoped for seasonal rise of prices in Russia. In conditions of sanctions it promised good profits for processors and traders. Instead of that they faced decrease of demand and prices for commodity products and losses from weakened RUB.
Devaluation of RUB influenced activity the most painfully. Ministry of Agriculture and Food of Belarus already counted shortfall in export value, resulted from weakening of RUB – the sum is estimated at millions of dollars.
Belarusian Prime Minister Mikhail Myasnikovich is also very indignant of a situation with rouble devaluation. He believes that Russia is losing export attractiveness and suggests to increase export floor prices for compensation of losses of domestic producers.
Russia may actually lose attractiveness, but not for Belarusians with their 95% export of dairy products to the Russian Federation. Moreover, Russian operators buy dairy products in Belarus at much higher prices, than in the world.
Scheme of processing of imported from Poland and Baltic States milk, which was successful in September-October, is not so favourable anymore, because of weakened ruble. There probably will be problems with informal re-export of European production also – “grey” schemes may be not repaid in Russia.
Therefore for the purpose to not increase the stocks, Belarusians have to reduce indicatives, at least for milk powder and butter.