Tridge summary
In the first quarter of 2024, Russia experienced a notable surge in agricultural exports, particularly potatoes, which saw an increase of 1.8 times compared to the previous year. This boost is largely due to a surplus from the 2023 harvest and the competitive pricing of Russian potatoes on the global market. The Potato Union has successfully expanded into new markets, including Serbia and Türkiye, particularly for seed potatoes. Despite facing challenges in procuring foreign processing equipment, Russia is making strides towards improving its domestic processing capabilities. The cultivation area for potatoes is expected to remain stable, though there are concerns about the impact of potential abnormally hot summer and drought conditions on production costs. Russia's potato production in 2023 reached a record high of 8.6 million tons, an 18% increase from 2022, supported by a federal initiative aimed at enhancing the development of vegetable and potato cultivation.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
Potato exports in the first quarter of 2024 increased 1.8 times compared to the same period last year, Rosselkhoznadzor said in a statement. According to the department, supplies of other root crops (carrots, beets, etc.) have doubled, and pome fruits (apples, pears, etc.) have increased by 3.4 times. There is also an increase in the export of onions and garlic abroad by 2.2 times. Supply volumes have not been specified. Executive Director of the Potato Union Alexey Krasilnikov told Agroinvestor that as of March 1, the balance of potatoes from the 2023 harvest at large agricultural enterprises was at the level of 140% compared to the same period last year. This is one of the reasons for the growth in exports. The second reason is the fairly low prices for Russian potatoes. “We have two channels for removing residues from the domestic market: export and processing, which we are gradually increasing. Against the backdrop of recent events, this process is complicated in terms of ...
Source: AgroInvestor
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