Russia was one of the hottest markets for U.S. beef during the first half of 2012, a trend upon which the beef checkoff has capitalized through trainings and promotions. Coming off a record performance in 2011, beef and beef variety meat exports to Russia were up 17% in volume (84.2 million pounds) and 57% in value ($162.2 million) year-on-year through the first half of 2012.
Looking ahead, prospects for continued export growth are bolstered by Russia’s entry into the World Trade Organization (WTO). Though Russia’s invitation to join the WTO became official in December 2011, the Russian Parliament just recently (in late July) passed legislation to complete its accession to the WTO. This means that many of the trade commitments Russia agreed to as part of its WTO accession on Aug. 23, 2012.
“The duty on frozen beef muscle cuts will remain unchanged at 15%,” said Thad Lively, senior vice president for trade access for the U.S.… Continue readingRead More »