Worldbulletin News

Worldbulletin News Worldbulletin News Portal


08:28, 17 September 2014 Wednesday
17:30, 18 August 2014 Monday

  • Share
North Cyprus farmers to profit from Russian sanctions on EU
North Cyprus farmers to profit from Russian sanctions on EU

Greek Cypriot Farmers’ Union EKA general secretary Panicos Hambas said that the Russian sanctions on the Greek Cypriot export of citrus fruits could lead Turkish Cypriot farmers to export their own fruits to Russia via Turkey.

World Bulletin / News Desk

The Turkish Republic of Northern Cyprus (TRNC) may economically benefit from Russia's sanctions on food imports from the European Union, a well-known Turkish Cypriot columnist has said, noting that Russia will be looking for alternative sources of food.

Writing for Kibris Postasi, columnist Akay Cemal claimed that part of Russia’s needs in agricultural products and fruits may be met by the TRNC, after Russia's announcement of counter-sanctions against the EU in response to EU sanctions against Russia for its occupation of Crimea from Ukraine.

The TRNC, which is unrecognized by any country except for Turkey, is unable to export any of its home-grown goods due to international embargoes. Turkish Cypriot producers looking to trade with the global market are usually left with no choice but to do so via the internationally recognized Greek Cypriot-controlled zone in the south, which is part of the EU.

Despite being recognized by Turkey, high prices in the TRNC often makes imports from the TRNC unprofitable for markets in Turkey.

However, according to Cyprus Mail, Russian sanctions on EU products will mean that Greek Cypriot citrus farmers will lose out on about €10.7 million in profits, particularly in an exclusive variation of orange called mandora, which is used in Russia to produce juice.

Greek Cypriot Farmers’ Union EKA general secretary Panicos Hambas last week said that the Russian sanctions on the Greek Cypriot export of citrus fruits could lead Turkish Cypriot farmers to export their own fruits to Russia via Turkey.

Due to the fact that Turkey is not in the EU, Turkey will not be affected by the Russian sanctions. In fact, Turkey expects to see an increase of exports to Russia to fulfill the demand. As a result, the TRNC may be able to supply the Russian market with mandora oranges if Turkish Cypriot farmers get them branded as products of Turkey.



Legal Notice: Copyright, trade marks and other intellectual property rights in this website can not be reproduced without the prior permission.

  • Share


Most Read



Yandex.Metrica