Lincolnshire based specialist agricultural accountants Moore Thompson say a deal to lift a 26-year ban on exporting British beef and lamb to Russia is a major boost for Fenland farmers.
The company, which has branches in Spalding and in the Deepings, reported that the Government had announced that Russia had agreed to lift the ban.
The ban was put in place by the Soviet Union in 1986 following the first BSE outbreak in the UK. The worldwide ban was lifted in 2006, but was kept in place by Russia.
Andrew Heskin, a partner in Moore Thompson’s Farming Sector team said he understood the lifting of the ban could be worth a potential £80m over the next three years.
He said: “This deal is a major boost to the local farming economy at a time of rising feed and energy prices. The Russian beef and lamb market has the potential to be highly profitable to our producers, and follows in the wake of a £50m agreement to export British port to China which the Government agreed in May.”