Source: Oleoscope (Russia)
Russia’s exports of agro-industrial products increased 2.7 times during the embargo on food from a number of Western countries, while the share of agro-industrial exports in the country’s GDP tripled to 2.14%, Prime reports after analyzing data from the UN Comtrade platform.
In August 2014, Russia decided to ban the import of certain agricultural products, raw materials and foodstuffs from countries that have imposed sanctions on Russia, including the United States, the European Union, Canada, Australia and Norway. Meat, sausage, fish and marine products, vegetables, fruit and dairy products were banned. In October 2023, the embargo was extended until 2024, with the exception of whey for infant formula.
At the end of 2013, exports of agricultural products from Russia amounted to USD 16.2 billion, at the end of 2014 to USD 19 billion. In 2015, the value fell to USD 16.2 billion, but the export volume then rose again.
As the then First Deputy Minister of Agriculture and current Minister Oksana Lut announced in February, exports of goods from the agro-industrial complex from Russia will amount to at least USD 43.5 billion in 2023.
Russia traded the most food products in 2023 – 65.8% of AIC exports were grain, 12.4% animal feed and 8.1% fats and oils. In all previous years, however, the three most important goods were cereals, seafood and fats and oils.