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Expert outlines Russian agribusiness growth drivers

According to Andrey Dalnov, head of the Center for Industry Expertise of the Russian Agricultural Bank, ramped up production of fruits and vegetables will become the key driver for growth of Russian agribusiness, as he said in an interview with Veterinary and Life.

Expert outlines Russian agribusiness growth drivers
Photo by Alexander Plonsky /V&L

“I believe that growth will be driven by industries with unsaturated markets, that haven’t yet reached historical records. For instance, we consume 77-78 kg of meat per capita. Meat consumption will increase for sure, which is seen in investment projects. The meat, however, won’t become a driver. But sectors that lag behind record consumption levels, like vegetables and fruits, will perhaps bump up in the coming years,” said Andrey Dalnov.

The export will traditionally be driven by the products of the seafood industry, as well as grain and oilseeds, and their derivatives.

“There is a shortage of these products in the international market. I believe that these traditional drivers will provide for good growth,” he said.

The expert also forecasts an increase in meat and dairy supplies to overseas markets. “Last year our meat exports totaled US$1 billion. According to analysts, this segment will see growth. I think, that the dairy industry (cheese, butter, milk powder) may also become determinants of export diversification,” said Andrey Dalnov.  

The expert named China and other countries of Southeast Asia, as well as some African and Middle East countries promising in terms of increasing supplies.

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English version, 14 Oct 2022 00:00
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