Valio sales fall 35% short of expectations due to Russian food import ban

Valio, FinlandValio, one of Finland’s largest producers of dairy goods, saw its Russian revenues fall 35% short of budget last year as a direct result of the ban that Russia imposed on EU food imports in retaliation for sanctions. The restrictions forced the company to sell “hundreds of millions of litres” of raw materials for the use in the production of industrial oils and milk powder instead, at rock-bottom prices. 

Source: ABN