Russian economic problems affect Belarus

Russian economic problems affect Belarus, therefore this year will also be heavy for it. Devaluation of Russian ruble influences Belarusian currency which is dependent on exchange rate in neighbor country. 

Weakening of Belarusian ruble presses upon financial possibilities of farmers and processors. In 2014 a number of organizations were declared insolvent. Such negative tendencies will probably take place this year also. Figures of Belstat confirm that: arrears of Belarusian agricultural organizations grew more than 50% for 12 months.

Problems with deliveries of Belarusian products to Russia were de jure solved in the end of December, but actually a blocking of deliveries continues under different pretenses.

Belarusians decided to continue trade only in US dollars. On January 13, export floor prices were changed only for whey powder, all other indicatives remained unchanged: SMP – USD 2.71/kg, WMP – USD 3.20/kg, 72.5% butter – USD 3.59/kg, 82.5% butter – USD 4.07/kg, 45% cheese – USD 4.65/kg, 50% cheese – USD 4.75/kg, whey powder – USD 1.00/kg.

This policy is favorable for Belarusians, but it increases prices in Russia. It forces Russian operators to look for alternative import markets. Belarusian products are overpriced if to compare with world prices. Therefore if the government of Belarus wishes to trade openly further, indicatives had to be reconsidered. Otherwise the products will be sold to Russia for rubles and under “gray” scheme.


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