World meat industry news

All news / The current policy of banks will force agricultural producers to reduce investment activity - Dmitry Matveev

  • 30 Jul 2021, 12:12

The current policy of banks will force agricultural producers to reduce investment activity. This was stated by Dmitry Matveev, General Director of Group of companies Kabosh, in a comment to The DairyNews.The current policy of banks will force agricultural producers to reduce investment activity - Dmitry Matveev

‘Manufacturers will be forced to raise prices, which will definitely affect the buyer. Therefore, the state should be strategically focused on the development of the industry, especially on producers of products with high added value, so that the industry does not stagnate in a short time,’ the expert noted.

According to him, initially lending to the agro-industrial complex was due to a number of difficulties: high and specific risks, price fluctuations, as well as the influence of global factors, in particular, political ones. In this regard, not so many banks are still interested in lending to producers in the field of agriculture, despite state support for this sector.

‘If the latest initiative to reduce the amount of interest rate subsidies to 80% is implemented, with a simultaneous increase in the key rate by 1%, the financial institutions of the Russian Federation, unfortunately, will not be able to compensate for the lost profit. As a result, banks will shift the additional financial burden on business,’ Dmitry Matveev concluded.

Earlier, he reported that the Group of companies Kabosh plans to export its original and classic line of cheeses, as well as raw whey to China and other Asian countries.