The agriculture sector in Russia is expanding; 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 may double by 2025,” said Yevgeny Akhlashev, director of the ministry’s food and processing industry department, which expects exports to reach $40 billion.
Over the past three years, Russia has dramatically reduced imports of sugar, meat, and cheese products, while domestic production in these sectors increased.
Statistics show that Russia’s export potential in the agriculture sector has increased 15-fold in the past decade;exports of sugar have risen 17-fold in the past two years, vegetable-oil exports have increased by 40 percent.
Food exports, led by wheat and fish, grew to a record $19 billion last year, according to the Russian Export Center.
This month, during his speech to the Russian Federal Assembly, President Vladimir Putin said exports of food should exceed imports within the next four years. The president urged an increase in meat exports.