Ag ministry sees Russian food exports rising to $150 bln by 2035

MOSCOW, Oct 30 (PRIME) – Russian food exports may rise to U.S. $150 billion by 2035 from 417 billion in 2016, and the country may occupy up to 7–10% of the world market in innovative segments of agriculture, the Agriculture ministry said in a statement on Monday.

“By 2035, Russia may become a global supplier of food to the world providing its own population with quality food and more than 250 million people with food exports, occupying high ranks at both traditional food markets and at emerging markets of the future,” the ministry said.

Russia’s combined food exports may reach $150 billion a year by 2035, the ministry said. The country has everything to ensure production growth, exports of competitive products, to increase the processing level for agriculture materials and food, to upgrade traditional ways of making ecologically pure products, and to develop production of hi-tech products, it added.

Russia’s 2016 food imports amounted to $25.03 billion. Agriculture Minister Alexander Tkachyov said in September that Russia may export $20 billion worth of agricultural products in 2017.

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