The British Government recently announced that Russia had agreed to lift its import ban on UK beef and lamb, which was initially put in place since 1986 by the Soviet Union after the first reported mad cow disease outbreak.

Agricultural accountant company, Moore Thompson said that the deal to lift a 26-year ban on British beef and lamb to Russia was a major boost for Fenland farmers. It is thought the lifting of the ban could be worth a potential GBP80 million (US$129 million) over the next three years.

The worldwide ban was lifted in 2006, but it was kept in place by Russia. During a visit to the country last year, the issue was raised by Prime Minister David Cameron.

"The Russian beef and lamb market has the potential to be highly profitable to our producers, and follows in the wake of a GBP50 million (US$81 million) agreement to export British pork to China which the Government agreed in May.