The war in Ukraine, and heavy sanctions Western powers have taken against Russia, will have long-lasting and serious consequences for the French farming sector, the European Union’s biggest, French President Emmanuel Macron said on Saturday, Reuters reports.
“If you ask me to share one conviction with you this morning, it is that this crisis is here to stay, this war is here to stay,” Macron told the Paris farm show on Saturday.
Trade restrictions resulting from EU sanctions on Russia will weigh on French exports such as wine and grains, Macron said, while a further rise in energy prices will hit livestock farming.
The crisis in Ukraine is increasing volatility in agricultural markets, with Paris wheat futures hitting a record high on Thursday. Farmers are also worried the crisis could exacerbate supply tensions in fertilisers and disrupt the spring growing season for crops.
