News

Petr Khodykin: Grain from Russia - this should sound proud

Grains, Cereal & Legumes
Russia
Market & Price Trends
Innovation & Technology
Published Apr 9, 2024

Tridge summary

Russian businessman Petr Khodykin, owner of LLC Trading House RIF, the largest domestic grain trader, emphasizes the potential of Russian grain to boost the federal budget and reduce reliance on oil and gas. As the world's leading grain producer, exporting over 60 million tons in 2023, mainly to the Middle East and North Africa, Russia aims to penetrate new markets, especially in Asia. The government and the Ministry of Agriculture are enhancing international relations and infrastructure to support this initiative. RIF plans to increase its agricultural exports by 1.5 times by 2030, backed by its extensive infrastructure and a significant export volume of 12 million tons to over 40 countries last year. However, RIF calls for a revision of Rosselkhoznadzor's quarantine standards to achieve this goal, highlighting its commitment to aligning with the government's strategy to stabilize and grow the economy through grain exports.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

As the world's largest grain producer, Russia is able to diversify its economy by increasing exports of these products. Can the sale of grain bring significant income to the budget of the Russian Federation and what does the near future of the grain market in the country and in the world look like, said Russian businessman, owner of the largest domestic grain trader LLC Trading House RIF Petr Khodykin. - Until now, a significant part of the budget of our country revenues from the sale of oil and gas. But today, for obvious reasons, there is an urgent task to reduce Russia's dependence on the oil and gas sector. Can grain, in fact, become “new oil” for Russia? - Of course, Russian grain can seriously increase federal budget revenues. Moreover, to become a stable source, unlike the oil and gas market, which is now unpredictable. The demand for food is growing throughout the world with the increase in the planet's population. And grain crops are the basis of the food industry. As a ...
Source: Zol
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