Russia has exported $25.3 billion worth of agricultural raw materials and food products since the beginning of the year, up 16% from last year, the Agriculture Ministry's Agroexport center reported

The average value of a ton of exported goods is almost equal to the result of 2019.

Grains traditionally dominate the structure of domestic agricultural exports. They were supplied to foreign markets this year for 8.3 billion dollars. This is 19% more than last year. Exports of wheat rose from $5.7 billion to $6.7 billion.

Fish and seafood showed a negative trend, their exports fell by 4% to 4.6 billion dollars.

External sales of oil and fats products increased by 18% to $4 billion from the beginning of the year.

Meat and dairy products showed the highest growth in percentage terms. Their exports grew by 42%, amounting to approximately $1 billion. For instance, domestic producers shipped abroad $377 million worth of poultry and $277 million worth of pork. A year ago these supplies amounted to 258 million dollars and 140 million dollars respectively.

In addition, a significant increase is registered in the export of other agribusiness products (agribusiness), such as sunflower seed oil. It accounts for 36% (about $3.6 billion).

Supplies to foreign markets of agro-industrial complex products show positive dynamics in contrast to a number of other spheres of the economy. This is influenced by the state support of exporters through subsidizing programs and the desire of domestic companies to export, especially in conditions of limited domestic demand, said Natalia Bakhova, director of trade finance department of Moscow Credit Bank (MCB). Also, she said, the weak ruble exchange rate is a driver of exports at the moment.

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Author: Ksenia Gustova