News

The Russian Ministry of Agriculture is improving the mechanisms of state support for the agricultural sector

Russia
Innovation & Technology
Published Mar 4, 2024

Tridge summary

The 15th International Agrarian Conference discussed the changes in state support for the agricultural sector in 2023, including the merging of compensating and incentive subsidies into one, with twelve priority areas identified. The preferential lending mechanism is being improved, with subsidies for new preferential loans being 70% for particularly sensitive areas and 50% for others. In 2024, agricultural producers will have access to preferential loans for various purposes. Crop insurance saw a significant increase in 2023, covering over 14% of the total sown area. Reimbursement of part of the direct costs incurred in 2024 will be carried out in the form of subsidies, with the reimbursement amount being 25, 30, 50 or 70%, depending on the direction.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Preliminary results of state support for the agricultural sector in 2023 and changes in its mechanisms this year were discussed at the 15th International Agrarian Conference “Where is the Margin 2024”. Deputy Minister of Agriculture Elena Fastova took part in the event. She, in particular, recalled that compensating and incentive subsidies have been combined into one from this year. Within the framework of this mechanism, twelve priority areas have been identified, five of which are provided for subjects by default. This includes carrying out agrotechnological work, supporting elite seed production, livestock breeding, agricultural insurance and small forms of farming. Additionally, the region will be able to choose three more areas out of seven: production of flax, fruit and berry products, support for beef cattle breeding, goat breeding, traditional sub-sectors, including reindeer husbandry, milk production, as well as deep grain processing and milk processing. The deputy ...
Source: Agronovosti
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