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All news / By 2030, exports of agricultural products could grow to $55.2 billion

  • 28 Mar 2024, 10:18

By 2030, Russia can increase exports of agricultural products to $55.2 billion, said Dmitry Krasnov, head of the Agroexport federal center under the Ministry of Agriculture, during the Agroforum in Ufa. He noted that the implementation of this task depends on the successful work of the regions to unlock their export potential, and a key priority is to ensure rapid growth of supplies in various regions.

In 2023, Russia exported $43.5 billion worth of agricultural products, exceeding the figure for 2022, when the volume of shipments amounted to $41.6 billion. Krasnov noted that the share of friendly countries in the total volume of Russian supplies of agricultural products increased from 73% in 2021 up to 87% in 2023. He also emphasized that friendly countries today account for 40% of global imports of agricultural products and will continue to increase food purchases at a faster pace in the coming decades.

Last year, Russia increased supplies of agricultural products to countries such as China (an increase of 52.7% in monetary terms), Bangladesh (5.2 times), India (45.7%), Yemen (almost three times ) and Egypt (by 10.6%). There has also been significant growth in exports to Indonesia, Mexico, Kenya and Pakistan. Over the past six years, Russia has received the right to export to more than 100 countries for more than 250 types of agricultural products. Important markets are China, including Hong Kong, Vietnam, Malaysia, Algeria and Indonesia, Krasnov said. He also noted that an increase in supplies of Russian goods to the countries of Asia, the Middle East, Africa, Latin America and the post-Soviet space is expected.

Meanwhile, Deputy Prime Minister Victoria Abramchenko, speaking in the State Duma, announced the start of preparation of the national project “Technological Ensuring Food Security” as part of the strategy for ensuring technological sovereignty. She expressed confidence that the joint work of the government and the State Duma will create the basis for achieving the goal set by President Vladimir Putin in his address to the Federal Assembly: to increase agricultural exports by 2030 by 1.5 times from the 2021 level. “The President, in his address to the Federal Assembly, emphasized the importance of ensuring technological sovereignty in agriculture. We will continue to support the agricultural sector for sustainable development, increasing labor productivity and expanding land holdings,” added Abramchenko.

Last week, Natalya Tugaleva, CEO of the Dostavka Morem Agro company, part of the exporting holding company Dostavka Morem, said that in 2023 the volume of exports of Russian agricultural products by sea increased 1.5 times compared to the previous year and reached 57 million tons. Including the volume of grain transportation for export increased by 1.75 times and amounted to 21.2 million tons. 13.2 million tons were transported through port stations, which is twice as much as in 2022. 8 million tons of grain were delivered through border crossings, which is 1.4 times more than in the previous year.