Monday, February 05, 2007

Russia temporary abolishes the import tariff rates for cashew, almond, hazel-nut and sesame
According to information provided by USDA, the Government of the Russian Federation made a decision to tentatively abolish the tariff rates for the import of such nuts as cashew, almond, hazel-nut in the shell and sesame. The import tariff rate for these types of nuts was 5% earlier.The governmental decision is motivated by the growing world prices for the mentioned types of nuts; this fact affects the rates of the confectionary industry development in Russia. As a result of the world price growth for the mentioned types of nuts, during the first 9 months of 2006 the import of the product to Russia has decreased 18% comparing to the same period of time in 2005 (down to 16,700 tons).
The cost of the imported nuts has grown nearly threefold during the same period of time. It is worth mentioning that almost all shipments of almond (98%) are supplied to Russia from the USA.
To the opinion of the specialists of "Agrooglyad: Vegetables and Fruits" journal, the decision of the Russian Federation will hardly solve all problems of the consumers of nuts; however, the volumes of nut shipments are likely to be somewhat increased. This fact will contribute to the trend of the persistent price growth for nuts in the world.

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