Russia: Over the ten years of the pro-embargo, investments in the dairy sector amounted to almost 1.5 trillion rubles

Published 2024년 8월 6일

Tridge summary

Over the past decade, Russia's dairy industry has seen significant investment, reaching nearly 1.5 trillion rubles, with a focus on both raw materials and processing sectors. This period, marked by the food embargo, has played a crucial role in transforming the dairy industry and reducing dairy product imports by 32.1%. The industry has experienced a surge in production of key dairy products and has seen a notable increase in self-sufficiency, supported by state subsidies exceeding 380 billion rubles. There is optimism for further growth and international expansion, with Russia already supplying over 1 million tons of dairy products on the world market, including 15-20% to non-CIS countries.

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Original content

Moscow. August 6. INTERFAX.RU - Over the past ten years, while the food embargo is in effect, investments in the Russian dairy industry have amounted to almost 1.5 trillion rubles, reported the National Union of Milk Producers (Soyuzmoloko). According to his estimates, about 1 trillion rubles were invested in the raw materials sector, and more than 460 billion rubles in the processing sector. “The pro-dambargo period coincided with the transformation of the dairy industry as a whole. This played a positive role in accelerating the development of the sector,” said Artem Belov, general director of the union. Imports of dairy products into the country during this period decreased by 32.1%, while supplies from third countries were almost completely replaced by products from Belarus. Overall, self-sufficiency in dairy products increased from 77% to 87%. According to Soyuzmolok, Russian producers increased the production of the most imported dairy products before the introduction of the ...

Source: Interfax