Export of agricultural products from Russia grew by 16%

Published 2020년 12월 2일

Tridge summary

Russia's agricultural exports in 2020 have seen a significant increase of 16.4% from the previous year, reaching $25.9 billion as of November 29, surpassing the total exports from the previous year. The exports have been dominated by grain, fat and oil products, meat and dairy products, with China being the leading buyer. Despite the positive trends, industry experts believe that the growth is limited to a few categories such as meat and fat and oil products, with a stable export value of about $2.3 billion expected in December. The export value for 2021 is projected to be around $27.7-28.8 billion, with grains and meat exports expected to show positive dynamics. The Ministry of Agriculture has revised its target for agricultural exports, setting it at $34 billion for 2024, a decrease from the original target of $45 billion in 2024, but with a more optimistic outlook for reaching these scaled-down goals.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to the Agroexport center subordinate to the Ministry of Agriculture, the export of agricultural products from Russia in 2020 as of November 29 amounted to $ 25.9 billion, which is 16.4% higher than in the same period in 2019. Thus, the volume of supplies has already exceeded the value of exports for the entire last year ($ 25.6 billion). The target level of supplies for 2020 is $ 25 billion. According to Agroexport, grain supplies from Russia by November 29 increased by 20% to $ 8.6 billion, fish and seafood - decreased by 5% to $ 4.7 billion, export of fat and oil products increased by almost 19% to $ 4.1 billion. Exports of food and processing industry products increased by 16% to $ 3.7 billion, meat and dairy products - by 42% to $ 1 billion. The leading buyer of Russian agricultural products is China, which increased imports by 27.5% to $ 3.6 billion. The PRC's share in the total supply of agricultural products from Russia is 13.9%. The republic is a leading buyer of ...
Source: AgroInvestor

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