Thu, 05 Aug 2021

The impressive growth of Russia's agricultural supplies to the global market will continue and could reach $30 billion by the end of 2021, Deputy Prime Minister Viktoria Abramchenko told TASS.

Abramchenko said that the major task is to fully provide the domestic market with food, and only then to strive for export markets. She added that Russia can expand the geography of supplies, mainly to the Asian market, and ensure the promotion of domestic brands on the world market.

"Those directions of development of the agro-industrial sector, which we discussed in terms of the country's development strategy until 2030, will allow at least 950 billion rubles (over $13 billion) of additional investments in the industry to be attracted, creating more than 400,000 jobs," the Deputy PM said.

The total value of Russia's agricultural exports amounted to $30.658 billion in 2020, according to the Ministry of Agriculture. China and Turkey are the major consumers of Russian agricultural goods. The European Union, Egypt, South Korea, Azerbaijan, Ukraine, Pakistan, Uzbekistan, and Mongolia are also among the top 10 largest buyers of Russia's agricultural products.

For more stories on economy & finance visit RT's business section


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