Russian agricultural exports grew by 20% in 2020

Published Mar 9, 2021

Tridge summary

In 2020, Russia achieved a record in agricultural exports, reaching a value of $ 30.7 billion, an increase of $ 5 billion from the previous year, with the majority of product categories experiencing growth. The only category that saw a decrease was fish and seafood, due to COVID-19 price reductions. The growth was led by grain, fat and oil products, meat, and dairy, with grain exports increasing by 25% to 49 million tons. China, Turkey, and Kazakhstan were the leading importers of these products. Additionally, Russia began exporting soybean and sunflower meal to China.

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

Original content

In 2020, Russia supplied 79 million tons of agricultural products worth $ 30.7 billion to foreign markets, which is $ 5 billion or 20% more than last year *. Thus, agricultural exports reached a record value, breaking the maximum in 2018, which resulted in an indicator of $ 25.8 billion. Growth was demonstrated by all major groups of goods, with the exception of fish and seafood, where, due to price reductions due to the coronavirus pandemic, the value of exports decreased by 2 ,one%. Shipments of grain in monetary terms increased by 29%, fat and oil products - by 22%, meat - by 49%, dairy products - by 11%. The supply of food and processing industry products showed an increase of 13%. According to the Federal Customs Service, in 2020, more than 150 countries were importers of agricultural products from Russia. The leading position among them is kept by China, whose purchases exceeded $ 4 billion. Last year, 4.8 million tons of food products worth $ 4.02 billion were imported to ...

Source: Aemcx