Sunday 10 August 2014 16.14 It is now estimated that only €10-15m of Irish food exports to Russia will be directly affected by Russia's decision to ban food imports from the European Union.
Minister for Agriculture Simon Coveney made the comments at the National Livestock Show in Tullamore, Co Offaly today.
Bord Bia originally estimated that the sanctions would affect some €70m worth of exports.
Last Wednesday, Russia banned fruit, vegetable, meat, fish and dairy imports from the European Union.
It also banned food from the United States, Australia, Canada and Norway.
The ban is in response to sanctions against Russia for its role in the conflict in Ukraine.
However, the Minister said there is significant concern at European level about the potential disruption to producer prices.
This is as a result of a short term surplus of food in Europe resulting from the closure of the Russian market.
He said a special meeting of officials from all European countries will take place later this week.
They will consider what the EU can do to prevent such disruption including the possibility of providing funding to put food into private storage.
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