March 8, 2022

Russia sees drop in value of agricultural exports for January 1-February 6 period

Russia exported $2.092 billion worth of agricultural products from January 1 to February 6, 15% less than during the same period last year ($2.468 billion), according to the Agroexport center under the country's Ministry of Agriculture.

The former leading segment in terms of value was grain, which fell to second place at $508 million, 49% less than a year earlier.

Exports of meat and dairy products increased by 19%, to $96 million, while food and processing industry products were up by 25%, at $245 million. Supplies of other agricultural products decreased by 33%, to $335 million.

The leading purchaser of Russian agricultural products is the European Union, with $368 million (17.6%), 34% more than a year ago. Turkey is second with $289 million (13.8%), which is 26% less than the same period last year. China follows, having imported $238 million (11.4%), 57% less than a year ago.

Turkey and Egypt were the largest buyers of Russian grain during this period.

In 2021, according to preliminary data, Russia exported $36.847 billion (69.4 million tonnes) worth of agricultural products against $30.5 billion in 2020 and $25.6 billion in 2019. The 2030 target is set at $47.1 billion.

- Agroexport (Russia)