Russian ban on U.S. imports could cause economic woe for Louisiana
SHREVEPORT, LA (KSLA) -
Louisiana exports a variety of agricultural products to Russia, and with that country's leaders new ban on some U.S. imports, the financial fallout could prove to be dire.
From January to June this year, Louisiana has exported $46,730,000 worth of agricultural goods to Russia. That's slightly more than the $46,654,000 exported during the same time frame last year.
"Putin is making these threats in hopes that we will back down from our position," said Dr. Mike Strain, Commissioner of the Louisiana Department of Agriculture and Forestry.
"But I think the agriculture people in the United States know that we need to stand strong as a nation, we will work through this situation."
Goods that have been shipped to Russia so far this year include:
poultry meat and products;
condiments and sauces; and
In previous years, Louisiana's exports to Russia have included pork and pork products, beef and beef products, snack foods, prepared foods, dairy, meat products, chocolate and cocoa products, processed vegetables, fresh fruit and vegetables and tree nuts.
The total value of Louisiana agriculture is more than $12 billion The overall value of Louisiana export is over $9 billion.
“So yes, in some specific areas, if you have specific contracts with Russia, like some of our poultry contracts, could be soy beans and others, depending on which contracts you have that could have a direct negative impact if you have already sold those products and they refuse to allow you to export to that country," Strain said.
According to data from the U.S. Census Bureau, in 2013, total exports to Russia totaled $117,076,000. In 2012, that number was $111,997,000; in 2011, $84,681,000; in 2010, $20,664,000; and in 2009, $86,455,000.
More than 60 percent of the agricultural wealth of the U.S. is exported from the ports of Louisiana, Strain said.
“We’ve dealt with this a number of times before with Russia on importation, a number of times because of a number of issues," he said. "So we understand what is going to happen.”