Russian food exports to double by 2025
Russia is strengthening its position in the global food market with the country's agriculture sector booming. This is largely due to government policy in response to sanctions, according to the Ministry of Agriculture.
“The policy of import substitution has proved its worth in a number of sectors. Talking about agricultural produce, we can say we are self-sufficient. We expect that export potential to double by 2025,” said Yevgeny Akhlashev, director of Russian agriculture ministry's food and processing industry department.
Statistics show that Russia’s export potential in the agriculture sector has surged 15-fold in the past decade. As a result, exports of sugar have risen 17-fold in the past two years. Vegetable-oil exports have increased by 40 percent.
Food exports, dominated by wheat and fish, soared to a record $19 billion last year, according to the Russian Export Center.
Russia is currently enjoying record grain production, which has beaten last year's bumper crop and the record harvest set by the USSR in 1978. The country has harvested around 135.393 million tons of grain, including 85.9 million tons of wheat, during the current growing season. Exports are reportedly set to beat another record this season.