Russia launches new subsidy for livestock breeders

Published Jan 9, 2023

Tridge summary

From January 1, 2023, Russia has introduced a new subsidy for livestock breeders, allocated with 600 million rubles for 2023, to partially cover the costs of raising cattle up to 24 months old for slaughter. However, Roman Kostyuk, the General Director of the National Union of Beef Producers, has expressed that the subsidy may not significantly benefit the industry due to the limited funding and the need for more specific targeting. Additionally, he highlighted that the beef industry faces challenges such as inadequate growth in breeding stock and significant reliance on imports, with beef production in Russia around 1.64 million tons per year.

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

Original content

From January 1, 2023, a new type of support for livestock breeders began to operate in Russia - reimbursement of part of the costs of raising cattle (cattle) and subsequent production. It is planned to allocate 600 million rubles for these purposes in 2023. “It will be possible to recover part of the cost of producing cattle up to 24 months old for slaughter. We are talking about products that will go for processing - their own or specialized organizations, ”the Ministry of Agriculture specified earlier. The subsidy will be provided at a rate per 1 kg of live weight. The funds will be distributed by the authorities of the regions, according to a government decree. General Director of the National Union of Beef Producers Roman Kostyuk told Agroinvestor that, in his opinion, the new subsidy is a positive development, but there are very few funds allocated for it. “In general, this measure will not help the industry in any way. For example, if 600 million rubles. divided by the ...

Source: AgroInvestor