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Ministry of Agriculture expects Russian agricultural exports to exceed $40 billion this year

Russian exports of agricultural products will exceed $40 billion by the end of the year. This forecast was made by Dmitry Patrushev, the head of the Ministry of Agriculture of Russia, while speaking at the strategic session, Food Security in Russia and the World, held within the Russian agricultural exhibition Golden Autumn – 2022.

Ministry of Agriculture expects Russian agricultural exports to exceed $40 billion this year
Photo by Aleksandr Plonskii /V&L

The Ministry will continue to support Russian exporters. The current measures include concessional loans, assistance in promotion of Russian products overseas, and reimbursement of transportation costs.

Today we see major geographical shifts in supplies of agricultural products, noted the head of the Ministry of Agriculture. Exporters turn towards countries in the Middle East, Africa, and Latin America.

«It is encouraging to see the growth of value-added exports. I admit, that grains are still the most exported item, but we see the increase in the exports of processed products as well. We will incentivize this area and support processing,” said Dmitry Patrushev.

The minister set an example of a 4-fold increase in flour exports after export taxes on grains were introduced. “This is clearly better than plain wheat exports. We need to keep the taxes to inspire construction of flour factories,” the minister added.

The Ministry will keep supporting the promotion of Russian goods at overseas markets, and arranging business trips for Russian manufacturers. Dmitry Patrushev mentioned the work of agricultural attachés in foreign countries. This approach proved to be an effective tool in the promotion of Russian products at overseas markets. The minister mentioned the intention to keep developing the agricultural attaché network.

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English version, 7 Oct 2022 10:16
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