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Will Russian and Belarusian grain imports to the EU drop by 90% in July 2024?
4
Resolution / Starting Odds
Yes • 50%
No • 50%
EU trade data, customs reports, or official statistics from the European Commission
Story
EU Agrees to Hike Tariffs on Russian and Belarusian Grain Imports Starting in July
May 30, 2024, 09:49 AM
The European Union has agreed to significantly hike tariffs on grain imports from Russia and Belarus. The EU Council adopted a regulation on May 30 that will impose prohibitive duties on cereals, oilseeds, and derived products from these countries. The new tariffs, set to take effect in July, are expected to effectively halt imports of these agricultural products. This measure aims to curb the Kremlin's revenues amidst ongoing geopolitical tensions. The move is also likely to contribute to higher food inflation.
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Similar markets
Russia only • 33%
Belarus only • 33%
Both Russia and Belarus • 34%
Increase by 0-5% • 33%
Increase by 5-10% • 33%
Increase by more than 10% • 34%
Ukraine • 25%
Canada • 25%
USA • 25%
Other • 25%
0-10% reduction • 25%
11-25% reduction • 25%
26-50% reduction • 25%
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Significant increase in crossings • 33%
No significant change • 33%
Significant decrease in crossings • 33%
