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Russia has the potential to increase exports of hay and alfalfa

Published Jun 26, 2024

Tridge summary

Russia has the potential to become a significant player in the global hay and alfalfa market by 2025-2026, as demand is expected to increase and the country has ample land resources. However, currently, Russia's export volumes are low due to a lack of specialized equipment and production capacity. The Association of Hay and Feed Exporters (APESK) is working on projects to change this, with plans to install specialized equipment in facilities in the Tyumen and Novosibirsk regions. These projects could potentially generate over $12 million in export revenue per year and meet the growing demand in the Middle East and China.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Russia has the potential to become an important player in the global hay and alfalfa market, but currently export volumes remain small due to a lack of plants equipped with specialized devices. The general director of the Association of Hay and Feed Exporters (APESK) Sergei Gontar spoke about this 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. Research company Market Research Future suggests that by 2030 the alfalfa market could exceed $42 billion. Gontar noted that Russia, being a newcomer to this market, has significant potential. Despite the fact that the first deliveries of alfalfa pellets were made only in 2021 to some countries, the construction of new plants will allow Russia to reach 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, ...
Source: AgroInvestor
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