Volga Baikal AGRO NEWS Update on the Russian Export Structure !!!

Grain traditionally dominates in the export structure

Volga Baikal AGRO NEWS Update on the Russian Export Structure !!!

The balance of imports and exports of food reached historical mimimum.

In 2020, Russia increased food exports by 18% up to $ 29.1 billion, according to data from the Federal Customs Service (FCS). At the same time, imports amounted to $ 29.4 billion. Thus, the balance of trade in agricultural raw materials and food amounted to only $ 0.4 billion, which is a historically low value, – noted Daria Snitko, head of the Center for Economic Forecasting (CEP) of Gazprombank, in the center’s Telegram channel. The downward trend in imports has been observed for three years in a row.

“Before the large-scale devaluation of 2014, the excess of food imports over Russian exports averaged $ 25 billion, but due to a strong rise in the cost of imported products, the introduction of restrictions on trade with the EU countries and active import substitution, it has been decreasing in the past five years,” – the expert wrote. In 2020, meat farming and the production of vegetable oils developed especially actively, which played a positive role in the development of Russian exports. Also last year, our country reached the second level of grain harvest in the history of Russia (133 million tons), which also positively influenced the increase in shipments abroad, – explained Snitko.

The commodity structure of both exports and imports is stable, – draws the attention of the CEP. So, the export of grain crops amounted up to 33% of the total supply, 16% fell on the export of fish, 15% – for vegetable oils, 6% – for oilseeds, 5% – for animal feed and meal, 3% for meat and 22% for other goods, according to the report of the FCS. A share of exports of food products and raw materials for their production in the commodity structure of exports in January-December 2020 amounted to 8.8% (in January-December 2019 – 5.9%).

A share of imports of food products and raw materials for their production in January-December 2020 amounted to 12.8% of the total volume of imports of goods to Russia. At the same time, last year the cost of imports decreased by 0.9%, while physical volumes increased by 0.6%. In the structure of imports, the main share is traditionally occupied by fruits and vegetables: the supply of fruits in 2020 increased by 10% in value terms, and their share – from 17% to 19%. The import of meat to Russia decreased significantly – by 29.8%, while the supply of pork almost stopped. Last December, the general director of the National Union of Pig Breeders (NSS) Yuri Kovalev, during the Agroinvestor conference, Agroholdings of Russia, – said that by 2019 Russia was able to achieve full self-sufficiency in pork, given that in the 2000s, a share of imports was 50%. Production is growing annually and will continue to grow until 2024. Physical supplies of cheese and cottage cheese increased by 12.4%, butter – by 11%, milk and cream – by 5.9%.

At the same time, according to the Agroexport center subordinate to the Ministry of Agriculture, last year Russia exported agricultural products worth $ 30.3 billion, that is, supplies exceeded imports. In physical terms, in 2020, 785 million tons of agricultural products and food were supplied abroad. Most of all, grain was exported – 48.6 million tons for $ 10.1 billion.The export of fat and oil products reached 8 million tons for $ 4.8 billion, meat – 524.9 thousand tons for $ 885.3 million, dairy – 206.7 thousand tons for $ 317.9 million. Fish and seafood was exported 2.2 million tons for $ 5.3 billion, food and processing industry products – 9.4 million tons for $ 4.4 billion.

Egypt, Saudi Arabia and Turkey were among the main buyers of Russian grain. Fat and oil products were exported mainly to India, China and Turkey, meat products to Vietnam, China and Ukraine. Among the key buyers of dairy products were Belarus, Kazakhstan and Ukraine, fish and seafood – China, the Netherlands and South Korea, food and processing industry products – Belarus, Kazakhstan and Uzbekistan.

Source: Agroinvestor.ru

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