Minister says Russia can double food exports to $45 bln by 2024

GORKI, Moscow Region, Apr 25 (PRIME) -- The Russian agricultural exports will reach U.S. $45 billion by 2024, Agriculture Minister Alexander Tkachyov said at a meeting of a presidential council on Wednesday.

“Firstly, we forecast exports at about $45 billion by 2024. As you see, that this is virtually more than twice as much as this year. Sure, we have ambitious plans. And we plan to sell not only the traditional grain,” Tkachyov said.

He also said that Russia will be able to replace agricultural imports from the U.S. if it restricts them with countersanctions.

“Let’s see. In principle, I support these initiatives. Can we replace these products? Sure, we can,” Tkachyov said, adding that the U.S. imports amount to about $300 million and account for about 2% of all Russia’s imports.

On April 6, the U.S. imposed sanctions against 38 Russian tycoons, officials and companies. A bill on countersanctions against the U.S. was submitted to the State Duma, parliament’s lower chamber, on April 13.

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