The Russian ban on food imports from the European Union has not yet affected the Slovak market, according to the five largest supermarkets in the country.
"To date, we have seen no changes in our product range that could be attributed to political decisions,“ according to a joint statement made by the Slovak Alliance of Modern Trade (SAMO), consisting of Billa, Kaufland, Lidl, Tesco and Metro. However, some of the local dairy and meat producers are already complaining about the loss of export opportunities to Russia, a spokesman for SAMO added.
Billa, Kaufland, Lidl, Tesco and Metro are the founding members of SAMO, an alliance formally part of the German - Slovak Chamber of Industry and Commerce. The aim of the alliance is to address the most important legislative issues regarding the retail industry. Together, the five retailers operate more than 450 stores and employ 23,000 people in Slovakia.
The five leading retailers say they have valid contracts that are and will be binding. “These contracts guarantee supplies in the required quality and price for Slovak customers. Therefore, we have experienced no reduction of the volume of Slovak products offered by members of SAMO," the alliance´s statement reads.
Russia has banned a wide range of food products from the EU in retaliation for sanctions imposed on it over the crisis in the Ukraine. Analysts predict that for Slovakia, the Russian ban will entail an annual loss of about six million Euro. However, this still means that the Slovak Republic will be one of the least affected member states, as losses for the Czech Republic are estimated at €11 million, and Hungary will be estimated to lose approximately €77 million.
© 2014 European Supermarket Magazine – Europe’s grocery retail magazine, for all your breaking supermarket, convenience-store and FMCG news. Article written by László Juhász.
