Russia earns record from agricultural exports

Agricultural exports will bring Russia a record revenue of more than $45 billion in 2023, according to preliminary figures from the country's Ministry of Agriculture .

Speaking at a meeting on January 24, Russian Agriculture Minister Dmitry Patrushev said that last year, the country harvested 147 million tons of agricultural products, 10 million tons lower than in 2022.

"Production indicators allow Russia to reaffirm its position as a net exporter of agricultural products," Dmitry Patrushev said.

Thanks to that, agricultural exports brought Russia a revenue of more than 45 billion USD, the highest level ever.

Over the past few years, Russia has become the world’s largest grain exporter thanks to bumper harvests and attractive prices, despite Western sanctions that have stifled its trade. Last year, Russia exported agricultural products to 100 countries. It also provides free grain to several African countries facing food insecurity.

Wheat harvest in Omsk (Russia) September 2023. Photo: Reuters

According to the Russian Ministry of Agriculture, milk and meat production will increase by 500,000 tons and 300,000 tons, respectively, in 2023. Fish production will reach a 30-year high of 5.3 million tons, of which 600,000 tons will be salmon, making Russia the world's largest producer of this commodity, Patrushev said.

This year, the Russian Ministry of Agriculture estimates grain exports will reach 60 million tons. There are currently no direct sanctions on the trade in this commodity, which are mainly applied to Russian banks, businesses, individuals and the energy sector. However, they make it more difficult for Russian companies to ship goods and make payments.

The Russian Ministry of Agriculture has not yet announced its top export markets for 2023. In 2022, the largest buyers will be China, Türkiye, Kazakhstan, Belarus, South Korea and Egypt.

Ha Thu (according to RT, Tass)

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