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Russian farms perform well but face challenges

Thursday, May 4, 2017

Significance

State-supported substitution of banned Western foodstuffs has boosted agriculture, which in 2016 enjoyed its most successful year in the post-Soviet period. Both the wheat harvest and meat production posted record highs.

Impacts

  • Food will be a key export item, as it already exceeds the value of arms sales.
  • Wheat export revenues may decline owing to the strengthening ruble.
  • The food substitution policy will prolong Russian import barriers.
  • Agricultural exports to China are rising and will include soya as well as wheat, other cereals and vegetable oil.
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