Business news from Ukraine

Hungarian government to impose additional restrictions on imports of agricultural products from Ukraine

11 April , 2024  

The Hungarian government will impose additional restrictions on imports of agricultural products from Ukraine to protect Hungarian farmers, the Associated Press reported on Thursday, citing a statement by Agriculture Minister István Nagy.

“The European Union’s decision to allow duty-free imports of goods from Ukraine in 2022 to help its economy stay afloat has led to a large oversupply and low prices on the European agricultural market,” Nagy said at a press conference.

Speaking about the planned new measures against Ukrainian products, the minister explained that the restrictions will now also include processed grain products.

He pointed out that officials in Brussels, in Budapest’s view, ultimately failed to protect European farmers who are unable to compete with cheap Ukrainian goods, and noted that this is why Hungary will introduce additional restrictions at the national level.

Last year, Hungary imposed a ban on the import of 24 Ukrainian agricultural products. The ban applies to grain, flour, vegetable oil, some meat products and other goods. Transit was not affected by this measure.

In March, an agreement on the temporary suspension of import duties and quotas on Ukrainian products entered into force in the EU, the agency said.

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