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Brazil takes advantage of Russian embargo

Brazil is taking advantage of the void created when Russia stopped buying dairy products from Europe.  Russian news agency ITAR-TASS says three Brazilian companies have been cleared to start shipping dairy to Russia and one has already begun deliveries.  The companies will be able to cover more than half of the void left by the Europeans.

The news agency says 37 Brazilian companies attended an international food exhibition in Moscow last week and came away with over $106 million in contracts.  Brazil says more than 130 companies have been cleared to export meat and other products to Russia.

Russia placed a one-year embargo on dairy, meat, fruit and vegetable products from the EU, Norway, the U.S., Canada and Australia in August.  The move was in retaliation for those countries imposing trade sanctions on Russia for its involvement in Ukraine.  The Russian Federal Customs Service says imports of those products in 2013 totaled more than $9 billion.

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