Export of agricultural products this year in Russia may amount to about $ 30 billion

Published 2021년 5월 20일

Tridge summary

Despite expectations of a slight decrease, Russia's agricultural exports are projected to reach $ 30 billion by year-end, similar to 2020's figures. As of May 16, exports have reached $ 10.9 billion, marking a 10% increase from the previous year, with fat and oil products, and meat and dairy products seeing notable increases. However, fish and seafood exports have decreased by 9% due to COVID-19 restrictions and stricter Chinese requirements. Despite these challenges, Russia aims to rank among the top ten agricultural exporters by 2030, with a growth rate outpacing other major exporters. The country also faces challenges such as phytosanitary barriers, increased competition, and risks of late harvest, but anticipates growth in fat and oil product exports, particularly to China, and in dairy product exports, especially to non-CIS countries.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

At the end of this year, the export of agricultural products will remain "in the region of $ 30 billion", in 2020 it reached $ 30.5 billion. This forecast was announced by the head of the Agroexport center subordinate to the Ministry of Agriculture, Dmitry Krasnov, during a meeting of the RSPP Commission on the agro-industrial complex. From the beginning of the year to May 16, Russia supplied agricultural raw materials and foodstuffs to foreign markets for $ 10.9 billion, which is 10% more than in the same period last year. The most significant - by 48% to $ 2.7 billion - increased shipments of fat and oil products, exports increased by 21% to $ 440 million in the category of meat and dairy products, follows from the data of "Agroexport". Last year, Russia reached a record volume of exports of agricultural products, Krasnov recalled, supplies grew at an outstripping pace: exporters partly took advantage of the emerging opportunities, which were associated with the rush demand for ...

Source: AgroInvestor