Volga Baikal AGRO News Update on the Results – 2021 !!!

Volga Baikal AGRO News Update on the Results – 2021 !!!


In the first nine months of 2021, agricultural production decreased by 4.3%, including in September it went down by 5.8%. GDP grew by 3.4% in annual terms in September, and by 4.6% in the first nine months. If in 2020 the agricultural sector was almost the only industry that confidently maintained positive dynamics, despite all the difficulties of the pandemic and new challenges, then by the autumn of 2021 its contribution to the economy was negative. It is possible that by the end of the year the situation will be similar.

At the same time:
  1. the grain harvest, although lower than last year, will still ensure both domestic needs and exports;
  2. the gross harvest of oilseeds has updated the record (an increase of 14%);
  3. sugar beet production has increased compared to 2020.

The economy in 2021 will recoup the fall of last year (3%) and grow by 4.2%, the Ministry of Economic Development expects. President Vladimir Putin said that Russia has returned to the pre-pandemic level of economic development and in 2021 GDP growth could reach 4.7%.According to the September forecast of the Ministry of Economic Development, agricultural production may increase by 1% this year against 1.3% in 2020. The department explains the slowdown in the dynamics by the unfavorable weather conditions prevailing in a number of regions, which led to the death of part of the crops. The Ministry of Agriculture in the summer predicted that in 2021 the industry will add 1.5%.

To be continued in the nearest post.

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Source: Agroinvestor.ru

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