Dive Brief:
- Russia's plan to ban food imports isn't working out as planned. Nor is the the EU's plan to help European farmers hurt by Russian restrictions.
- In Russia, a booming black-market trade in European food imports has emerged. The trick is to ship food to Belarus, affix a stamp that says it was made in that country, then ship it to Russia.
- Meanwhile, the EU has suspended a plan to offer aid to fruit and vegetable growers hurt by the ban amid suspicions of widespread fraud in the program.
Dive Insight:
Ah yes, what's that old saying? Something about the "best laid schemes of mice and men and saber-rattling politicians, often go awry." We can't remember exactly how it goes, but you get the gist of it. Surely food companies around the world will be watching as these events roll out, as the Ukraine crisis has already had a measurable impact on business.