August 7, 2014 / 9:46 AM / 5 years ago

Russia import ban may impact local food prices-FAO economist

ROME, Aug 7 (Reuters) - A food import ban announced by Russia’s government may fuel price inflation in the country but is unlikely to have a marked effect on global food security, a senior economist from the United Nations food agency said on Thursday.

“The first casualties would be the domestic market, however it will have some implications for the farmers in the producing countries,” Abdolreza Abbassian said, pointing to a possible rise in unsold surplus stocks in some exporter countries.

Abbassian said the measures would primarily have a political impact and the effect on world food prices would be limited.

“This is an exceptional situation where one cannot generalise on global food security,” he said. (Reporting by Isla Binnie; editing by James Mackenzie)

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