April 9, 2012

Russia may halt pig price dumping after joining WTO

In order to prevent predatory pricing from foreign companies, Russia may adjust import control measures on pigs after joining the World Trade Organisation (WTO), Viktor Batanin, the deputy director of trade negotiations department of economic development ministry said Friday (Apr 6).

Russia is still entitled to impose anti­dumping measures and countervailing duties if the import of pigs and pork produce to Russia soars, he said.

CEO of the Russian Pig Farmers Union Yuri Kovalyov said earlier, that Russian pig farmers could bear losses of about RUB20 billion (US$675 million), and the imported pork amount could increase to 35-40% from 20% in September-November of 2011, due to Russia's obligation to cut the imported pigs customs duties from 40% to 5% under the WTO regulations and fall of the pork import duty to zero under the common WTO standards.