Spain’s Less-Than-Peachy Trade Outcome

Prior to their August 2014 ban on EU agricultural products, Russia was the top market for Spanish apricots, peaches, and nectarines outside the EU-28. The good news is that Spain’s exports of these products actually rose by 16% between 2013 and 2015, owing to improving demand from the EU and gradual export market diversification. Nevertheless, the trade gain was bittersweet. The producer price of peaches and nectarines plummeted by over 30% from 2013-2015, as new buyers demanded a discount.