Minister: Russian farmers may raise ag exports to $45 bln in 2024

KURSK, Jul 22 (PRIME) – Russia can raise agricultural exports to U.S. $45 billion in 2024 in line with President’s Vladimir Putin’s orders, Agriculture Minister Dmitry Patrushev said on Monday at a government meeting.

Patrushev said that the ministry analyzed the potential of each region of Russia and met with authorities of each federal district to coordinate efforts and possible contribution of a region to Russia’s combined exports. “One of the major results of the meetings is that the regions confirmed readiness to work on raising exports of food and agricultural products. So, we expect fulfillment of the goals set by (Putin’s) May order,” he said.

The ministry also wants to amend the mechanism of distribution of state support by splitting the subsidies into stimulating and compensating ones, and then directing stimulating subsidies to the most promising directions in each region, he said.

The Agriculture Ministry, the Economic Development Ministry, and the Russian Export Center also agreed to resume subsidization of export loans for agricultural companies, he said, asking Prime Minister Dmitry Medvedev to issue rulings to the corresponding authorities.

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