Russia reduced agricultural exports by 14% in Q1

In January-March of this year, Russia reduced its exports of food products and agricultural raw materials (except textiles) in monetary terms by 14 percent or $1.4 billion to $9 billion. This is reported in the materials of the Federal Customs Service (FCS) of Russia. At the same time, imports of such products, on the contrary, increased by 12.5 percent ($1.1 billion), - from $8.4 to $9.5 billion. Thus, the rate of decline in supplies and growth in purchases for the month has increased significantly. In January-February, the figures were 4.6% less and 6.6% more, respectively. Over the past year, according to the customs service, Russia exported agricultural products and food products for $42.6 billion, which is $500 million less than the 2023 level. At the same time, imports of such goods over the same period increased by 7% ($2.5 billion). In 2023, both exports and imports of agricultural products decreased. They amounted to 41.3 and 35.1 billion dollars, compared to 43.1 and ...