Food imports decreased by one third over the past six years

Published 2020년 8월 7일

Tridge summary

The article highlights the outcomes of Russia's pro-embargo initiative, which was introduced in 2014 in response to western sanctions. The Ministry of Agriculture has reported a notable decrease in food imports from 2013 to 2019, with significant reductions in pork, cattle meat, and certain fruit imports. Despite these decreases, the value of food imports still dropped by 30 billion dollars over the six-year period. Concurrently, Russia has seen a growth in its agricultural export values, increasing by 1.5 times from 2013 to 2019, with key exports including wheat, vegetable oil, fish, sugar, and various other products. The state support for agriculture has been increased, leading to a rise in the production of key crops and livestock. This period also witnessed a significant growth in the profitability of agricultural organizations, reaching 13.3% in 2019, up from 7.5% in 2013. The pro-embargo has also had a positive impact on rural employment, with the agricultural sector providing job opportunities for those affected by the pandemic.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The Ministry of Agriculture has summed up the results of six years of the pro-embargo. So, if in 2013 food imports in value terms amounted to $ 43.3 billion, then in 2019 - $ 30 billion.In particular, the import of pork decreased almost ten times - from $ 2.6 billion to $ 270 million, cattle meat - in two and a half times, from $ 3.2 billion to $ 1.3 billion, poultry - almost doubled, from $ 911 million to $ 410 million, vegetables and dairy products - by a third. The import of tomatoes decreased by 42.1%, from $ 1.1 billion to $ 639 million, apples and pears - by 50.8% from $ 1.2 billion to $ 586 million, according to the website of the Ministry of Agriculture. The agency also notes that the development of the agro-industrial complex made it possible, in many respects, to switch from an import-substituting model to an export-oriented one. Since 2013, the export of Russian agricultural products has increased by one and a half times and amounted to $ 25.6 billion at the end of 2019 ...
Source: AgroInvestor

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