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Izvestia: Russia’s food exports grow more than 20% over past year

Izvestia, 08.04.18

Russian exports of food and agricultural raw materials amounted to $20.7 bln last year, a 21.7-percent increase compared to 2016, Izvestia writes citing data provided by the Russian Agriculture Ministry. Grain, flour and cereal products accounted for one-third of the exported food commodities. The leading consumers of these products were Egypt ($1.78 bln), Turkey ($1.78 bln), China ($1.77 bln) and South Korea ($1.46 bln).

Russia’s national export support system is currently in the active development stage, the paper quotes Mikhail Sneg who represents the Russian Export Center as saying.

To successfully implement the export strategy, it is necessary to modernize production capacities in both agriculture and the food processing industry, the Agriculture Ministry’s press service told Izvestia.

Dmitry Rylko, CEO of the Institute for Agricultural Market Studies, recalled that WTO members cannot subsidize exports directly, using only indirect support measures. These can include efforts to help companies certify domestic products abroad and encourage producers to take part in international exhibitions.

Meanwhile, Director of SovEcon analytical center Andrei Sizov emphasized that Russian food exports could reach $30 bln for the midterm. He noted that agricultural raw materials are the basis of goods exported from Russia, and new markets are required to sell them abroad. For example, exports to Saudi Arabia and North African countries can be considered, he noted.


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