Russia ramps up agricultural exports by almost 20% since January

Supplies of Russian agricultural products abroad have risen since the beginning of the year, totaling $26 billion as of October 24, data by the AgroExport division of the country’s Ministry of Agriculture shows.

The figure is 19.5% higher than during the same period of last year. Exports of grain increased 11.6% to over $8 billion, while sales of fish and seafood soared 21.1% to $5.1 billion. Deliveries of fat and oil products jumped 47.5% to $5.35 billion. Exports of products from the food processing industry rose by 8.9% to $3.5 billion, while meat and dairy products grew 29.9% to more than $1 billion.

The European Union and Turkey were the major importers of Russian agricultural goods, accounting for 13% and 11.8% of the total exports respectively. China has also increased imports of Russian produce since the beginning of the year by 36.4% to more than $3 billion.

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The top 10 importers of Russian agricultural products also include South Korea, Kazakhstan, Egypt, Belarus, Ukraine, Uzbekistan and Azerbaijan.

Russia’s Ministry of Agriculture expects the volume of the country’s agricultural exports to reach $34-35 billion by the end of the year.

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source https://www.rt.com/business/538598-russian-agriculture-exports-growth/?utm_source=rss&utm_medium=rss&utm_campaign=RSS