Russia has the potential to increase exports of hay and alfalfa - expert

Published Jun 28, 2024

Tridge summary

Russia has the potential to become a significant player in the global hay and alfalfa market by 2027, with demand expected to reach nearly 33 million tons of hay and over $42 billion in alfalfa. The country's first alfalfa pellet deliveries were made in 2021, and the construction of new plants is anticipated to boost Russia's presence in the market, particularly in the Persian Gulf and Asian countries like China, Japan, Korea, and Europe. To increase export earnings, Russia needs to increase production capacity and invest in specialized equipment for drying and compressing alfalfa. The Association of Hay and Feed Exporters (APESK) is working on several projects to facilitate this, with the potential to generate over $12 million in export earnings annually.

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

Original content

By 2027, the total demand for them in the world could reach almost 33 million tons Russia has the potential to become an important player in the global hay and alfalfa market, Sergei Gontar, General Director of the Association of Hay and Feed Exporters (APESK), told field.rf. It is predicted that by 2027, the total demand for hay in the world will reach 32.59 million tons, compared to 12 million tons in 2024. The research company Market Research Future suggests that by 2030, the alfalfa market could exceed $42 billion. As Gontar noted, despite the fact that the first deliveries of alfalfa pellets from the Russian Federation were made only in 2021, the construction of new plants will allow our country to enter to a new level by 2025-2026. He emphasized that the main importers of alfalfa are the Persian Gulf countries, which do not have an adequate feed supply and are striving to develop livestock farming, as well as China, Japan, Korea and a number of European countries. Gontar ...

Source: Specagro