Russian analysts announced the failure of the program of import substitution of food products

Published 2020년 12월 7일

Tridge summary

A study by a national rating agency has found that Russia's import substitution strategy, imposed in response to Western sanctions, has not achieved its target indicators for reducing imports of certain goods. Despite bans on imports from countries under sanctions, Russia has simply shifted to importing from third countries. The study found that only meat imports have significantly decreased, while imports of fruit, vegetable products, and dairy products have only partially decreased. Domestic production of poultry, pork, and fish has increased, but re-export of prohibited products is also contributing to the continued import of some sanctioned goods.

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

Original content

The target indicators of import substitution for a number of goods were not achieved in Russia, and supplies from countries that fell under the sanctions were replaced by the import of goods from third countries.For eight years since the adoption of the import substitution strategy, under the current ban on the import of certain products, Russia failed to achieve the planned targets. follows from a study by the national rating agency (NRA), according to Kommersant. As recalled in the message, in August 2014, an embargo was imposed on the import of certain categories of goods from Western countries into the country as a response to Western sanctions. The first ban on the supply of goods - meat, fish, dairy products, cheeses, vegetables, fruits - concerned the EU countries and the United States. A year later, the sanctions were extended to Albania, Liechtenstein, Iceland and Montenegro, and later to Ukraine. It was planned to replace the falling production volume with Russian goods ...

Source: Agrosektor