Russia has reduced purchases of imported seeds by almost a third

Published 2024년 3월 12일

Tridge summary

In 2023, Russia's seed imports fell by nearly a third due to factors such as foreign seed companies exiting the Russian market and the growth of domestic seed production, according to the Ministry of Agriculture. Despite this, there is no seed shortage as domestic producers are effectively replacing these volumes. However, industry leaders warn of potential decreases in yield and profitability, and possible rising food prices due to restrictions on seed imports. They urge the government to provide affordable seed materials to domestic farmers rather than limiting seed imports.

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

Original content

In 2023, the volume of seed imports to Russia decreased by almost a third, the Ministry of Agriculture reports in its Telegram channel, without specifying specific figures. The report notes that the transition to the use of domestic seeds is happening gradually, which avoids risks to agricultural production. Interest in Russian developments has increased significantly. According to the department, the supply of seeds prepared for sowing for most crops exceeds the previous year. For example, 99% of grain and leguminous seeds, 53.9% of corn, 51.3% of sunflowers, 48.2% of sugar beets have already been purchased. The Ministry of Agriculture states that the purchase and preparation of seed material continues, and by the time of sowing it is expected that there will be a full supply of all necessary seeds. In February of this year, Russia introduced quotas for the import of seeds from unfriendly countries. The quota for 2024 is 33.1 thousand tons. Quotas are aimed at accelerating the ...

Source: AgroInvestor