Russia: Export of agricultural products grew by 18%

Published 2021년 8월 25일

Tridge summary

Russia has experienced a significant growth in agricultural exports since the start of the year, with a 18% increase in revenue compared to the same period in 2020, amounting to $19.2 billion. This growth is primarily driven by fat and oil products, which have seen a 43% increase in export value, led by sunflower oil. Meat and dairy products have also seen a 26% increase in export value. Wheat, barley, corn, and rice exports have also grown, with buckwheat and millet showing the most significant increase. Despite a slight decrease in the volume of exports, the value of exports to China has fallen by 6%. However, exports to Turkey and the EU have seen significant growth of 29% and 31% respectively. The export of fat and oil products, along with meat and dairy products, is expected to continue to grow, with potential barriers including export duties, epizootic situations, and protective policies of partner countries.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Since the beginning of the year, the export of agricultural products amounted to $ 19.2 billion, which is almost 18% more than in the same period last year, reports the Agroexport center subordinate to the Ministry of Agriculture. The average price of a ton of exported products increased by 28% to $ 502. The growth driver for the reporting period was fat and oil products - plus 43% to $ 4.3 billion, on average this category of goods costs $ 906 / ton against $ 565 / ton a year earlier. At the heart of the export of fat and oil products is sunflower oil, which was sold for $ 2.6 billion, last year - for $ 1.8 billion. Supplies of cake, rapeseed and soybean oils, and margarine also showed growth. Meat and dairy products rank second in terms of export growth; they were exported for $ 878 million, which is 26% more than a year earlier. These products also rose in price - by an average of 16% to $ 1.9 thousand / ton. The main driver in this category is beef, which sales amounted to $ ...
Source: AgroInvestor

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