World meat industry news

Over the past year, the share of agricultural organizations that made a profit in crop production, livestock farming, hunting and the provision of services in these areas of activity decreased to 81 percent or 1.9% from the 2022 level. This data is provided by Rosstat.

In general, the number of profitable organizations in the fields of agriculture and forestry, as well as hunting, fishing and aquaculture decreased from 81 to 78.9 percent, while unprofitable ones, on the contrary, increased from 19 to 21.1. At the same time, the share of organizations that suffered a loss increased year on year from 17.1 to 19%. The reasons were the weakness of the agricultural policy to improve the profitability of the agricultural sector, as well as such old problems of the agro-industrial complex as high debt load, obsolescence of agricultural machinery, difficulties with import substitution and others.

The situation is better in the fishing and fish farming sectors. There, the share of profitable companies and other agricultural organizations rose from 64.8 to 68.8 percent. However, there were more unprofitable ones - 35.2% versus the previous 31.2. The losses of companies and other agricultural organizations generally increased by 5.5 percent and amounted to 63.6 billion rubles.

However, their profit increased by 14.8% - to 694.3 billion rubles. The balanced financial result exceeded the 2022 figure by 15.8 percent, reaching 630.7 billion rubles.