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Resolved to be healthier & wealthier? 4 habits you need to succeed Resolved to be healthier & wealthier? 4 habits you need to succeed . . . . . . . .... . . . . . Canadian exporters to Russia assess fallout of currency crisis, sanctions The Canadian Press By Andy Blatchford, The Canadian Press – 9 hours ago .. . . Print ... . . Beat the market. Get the app. ... . . . Russias economy contracted sharply in November, for the first time since October 2009. As Joel Flynn reports its the biggest sign to date of the impact Western sanctions and a slump in oil prices are having on the slowing economy.. Reuters Videos - Russias economy contracted sharply in November, for the first time since October 2009. As Joel Flynn reports its the biggest sign to date of the impact Western sanctions and a slump in oil prices are having on the slowing e …more .. . .Focus: World . .. 1.Top tech stories of 2014 CBC.ca Videos . 2.The mainlands colonization of the Hong Kong economy Reuters . 3. The Home Depot Appliance Boxing Week Blowout The Home Depot Sponsored . 4.China leads gains in world stock markets on final day of trading for 2014 The Canadian Press . 5.Anemic growth warrants easy monetary policy: IMFs Lagarde Reuters . 6.Ex-Korean Air executive detained in nut rage case Reuters . 7.Argentinas debt crisis seen rumbling on until 2015 election Reuters . .. . news/world » .. . . By Andy Blatchford, The Canadian Press OTTAWA - Canadian exporters stung by Russias currency crisis and its retaliatory sanctions against the West wonder what 2015 will hold for a market filled with promise less than 12 months ago. Companies from farm-equipment manufacturers to pork producers spent much of 2014 adjusting to the economic instability in Russia, a country that bought $563 million worth of Canadas agricultural exports in 2012. For some firms, the first half of 2014 had the hallmark of a banner year — and then sales evaporated. A senior executive for one of Canadas biggest exporters to Russia said his company did about $250 million in annual business there in recent years, mostly selling frozen pork products. Olymel, a pork and poultry processor and distributor, appeared on track for its best year yet in Russia after more than two decades of working there, said Richard Davies, the companys senior vice-president of sales and marketing. But in August, Russia banned meat products and other goods from countries such as Canada in retaliation for financial sanctions by the Western countries. We knew (the ban) was potentially going to come, but we certainly didnt expect it to unravel as quickly and as strongly as it did, Davies said in an interview. Obviously, the embargo in August had a significant impact on us and basically the Canadian and North American pork market, for that matter. Last March, Canada and some of its allies sought to punish Russia for its annexation of Crimea and its provocative military activity in eastern Ukraine. They imposed a number of sanctions against Russia and its supporters. Russia struck back by slapping a ban on meat, seafood, milk and dairy products, fruit and vegetables from Canada, the U.S., the European Union, and other countries. The Canadian hog industry exported more than $490 million worth of pork products to Russia in 2012, according to Canada Pork International. Signs of the impact have already begun to surface in the trade data. The most-recent Statistics Canada figures show exports of fresh, chilled or frozen pork to Russia totalled $7 million for the months of August, September and October 2014. By comparison, the same three-month stretch in 2013 saw Canadian firms send $64 million worth of those products to Russia. In another major area, Statistics Canada didnt record any Canadian exports of crustaceans to Russia from August to October 2014 after it yielded $16.1 million for the same three-month period in 2013. Canadian sales of frozen fish (excluding fillets) were $750,000 between August and October 2014, down from nearly $19 million over those months a year earlier. Davies said the pork producers have redirected some of their products into existing markets, but that has driven down prices. He added that some 2014 losses were offset by price increases after a virus outbreak killed millions of piglets in the United States. He has no idea whats next for Russian-Canadian trade, though he fears Ottawas condemnation of Russia could hurt relations even if the sanctions are lifted. Prime Minister Stephen Harper and Conservative MPs have been a vocal critics of Russian President Vladimir Putin for months. The Prime Ministers Office has said Harper told Putin to get out of Ukraine to his face when the two met at the G20 summit in Australia in November. My personal is view is its just too loud, too much rhetoric for the political weight we carry in the grand scheme of things in the world political map, Davies said. I think long term that might have a negative impact when eventually things tend towards coming to normal. I think we might be in the penalty box for a little longer than we should. A spokesman for Foreign Affairs Minister John Baird reiterated the governments message the sanctions against Russia and its supporters were made with careful consideration of the potential impact they would have on Canadian business interests. We will continue sending the message to Russia that its aggression against Ukraine is unacceptable, Adam Hodge said in an email. Today, the turmoil in Russia reaches far beyond international sanctions. The countrys falling currency — the ruble — and the plunge in oil prices have thrown it into crisis. The downturn has even affected sectors that were not targeted by the Kremlins embargo. So, you were asking about business in Russia? There isnt any, said Greg Archibald, president of Saskatchewan farming machinery manufacturer Schulte Industries Ltd. Weve built up some pretty good sales over there. Last year was a booming year and this year we were expecting to get better and then it just stopped. Even though Russia hasnt banned farming equipment sales, Archibald said the countrys economic problems have ensured Schulte hasnt sold anything in the country for six months. The company, he said, saw half a million dollars in orders cancelled in one day. It has been working to boost sales in other markets, such as Germany, South Africa, China and Australia, he added. Above all, however, Archibald said he worries about farmers caught in the middle of the violence and the humanitarian crisis linked to the political unrest. Its just difficult over there for the whole bunch of them, said Archibald, whose company has considered Russia a key market for over a decade and has deep ties to people in the region. I feel for them. Its not good for us, but well live — well survive. But its difficult and I think its probably going to be a few years before they work themselves out of it. Derek Lothian, vice-president of Canadian Manufacturers & Exporters, predicts the business challenges in Russia to remain in place for all of 2015 — at least. Lothian said the situation has been compounded because the cash-strapped Russian government has also limited subsidies, particularly to its agricultural sector. Russias purchasing power is, quite frankly, considerably diminished and that translates into dampened demand for Canadian products, he said. The chief executive of Manitoba-based hog producer HyLife Ltd. said at this time of year Canadian companies like his usually enjoy Russias constant, year-round demand for pork products. North American demand for hams typically drops off after Christmas, Grant Lazaruk said. If Russia was open today, it would probably represent 25 per cent of our sales, said Lazaruk, who has maintained good relations with his Russian clients so that HyLifes ready for the markets reopening — whenever that might be. Lazaruk even received Christmas cards from them, though he said it remains unclear what will happen in 2015. — Follow @AndyBlatchford on Twitter .. . .@YahooFinanceCA on Twitter, become a fan on Facebook . .. . . You Might Like 1 - 3 of 294 .. . Airbnb is giving customers a chance to spend the night in a tricked out airplane Airbnb is giving customers a chance to spend the night in a tricked out airplane . Lower loonie to boost tourism to Canada, says economist Lower loonie to boost tourism to Canada, says economist . Huge flash lights up sky and baffles scientists Huge flash lights up sky and baffles scientists . . . . .. . All Comments . Leave a comment... Comment Guidelines your avatar Post AsOptions 14 Comments Popular Now Newest Oldest Most Replied kjbhdes 0users liked this comment Please sign in to rate a Thumb Up Please sign in to rate a Thumb Down 0users disliked this commentkjbhdes • 3 hours ago Report Abuse money means nothing canadians wont advance, they demand to live like animals, if you try and help them they attack you, they have no standards, they keep money to the poor and cant run a system it is because of countries like canada that money will fail altogether, you dont want canadians values... More Reply . Gord 0users liked this comment Please sign in to rate a Thumb Up Please sign in to rate a Thumb Down 0users disliked this commentGord • 7 hours ago Report Abuse Considering the health care concerns around the world; its too bad that Canadian meat, dairy products & agricultural equiptment cannot be provided to these countries; where there are dire needs for them. The African countries, afflicted by ebola, is one situation; which comes to mind. Why... More Reply . HS71 0users liked this comment Please sign in to rate a Thumb Up Please sign in to rate a Thumb Down 0users disliked this commentHS71 • 4 hours ago Report Abuse .Canadian profiteers and pig salesmen are trampling on the bones of Ukrainian heros in their blind and selfish pursuit of profit - this is capitalism at its worst -Khrushchev, Castro and Mao will be turning in their graves as they see the motherland gorging themselves on such immoral excesses of... More Reply . George 0users liked this comment Please sign in to rate a Thumb Up Please sign in to rate a Thumb Down 0users disliked this commentGeorge • 14 minutes ago Report Abuse News Flash. In case no one was paying attention. Canada sent its Air Force to kill Russians. Canada took the side of Kiev and assisted Kiev in the freezing and starving of Ukrainian- Russians. Why would Russia want anything to do with Canada. Canada is now under the directives of EU / IMF. We... More Reply . Goetze 2users liked this comment Please sign in to rate a Thumb Up Please sign in to rate a Thumb Down 1users disliked this commentGoetze • 5 hours ago Report Abuse Not to worry. After the election, Mr. Harper can edit Mr. Black;s History of Canada with his accomplishments - Mr. Stephen Harper, PM 2006-2015. Almost balanced the budget, once. 1 Reply . George 2users liked this comment Please sign in to rate a Thumb Up Please sign in to rate a Thumb Down 2users disliked this commentGeorge • 7 hours ago Report Abuse Wait until the tar sands shut down as a result of forced oil price drop to punish Russia. Sanctions and economic warfare inflict casualties on all sides. 2 Replies . Joseph 9users liked this comment Please sign in to rate a Thumb Up Please sign in to rate a Thumb Down 4users disliked this commentJoseph • 8 hours ago Report Abuse One more proof, how stupid is our Jew sucking, American puppet Harper government. Reply . Smokey 4users liked this comment Please sign in to rate a Thumb Up Please sign in to rate a Thumb Down 4users disliked this commentSmokey • 9 hours ago Report Abuse Make an appointment to discuss the matter with Harper. Reply . HS71 1users liked this comment Please sign in to rate a Thumb Up Please sign in to rate a Thumb Down 12users disliked this commentHS71 • 9 hours ago Report Abuse Richard Davies, OLYMELS senior vice-president of sales and marketing.should find a non-terrorist state to trade with -Canada does not need imports nor exports to / from the Russian pariahs! Greed and profits should not be allowed trump civilised decency -turning a blind eye to these brigands will... More 4 Replies Comment hidden due to low rating. Show Comment . jade jet 4users liked this comment Please sign in to rate a Thumb Up Please sign in to rate a Thumb Down 2users disliked this commentjade jet • 6 hours ago Report Abuse Why would our political leaders impose sanctions on Russia when it is the American war machine that provokes wars everywhere it goes...Canada is no more than an American puppet with no independent foreign policy...lol...welcome to the NWO. Reply . . 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