How did the Russian poultry industry grow?

Monday, 12 August 2019 00:00 Written by  font size decrease font size decrease font size increase font size increase font size
How did the Russian poultry industry grow? Photo By Gettyimages

Russia has banned imports of agricultural products from the EU, US, Australia, Canada and Norway since August 2014.

 

According to data released by the Ministry of Agriculture, food imports into Russia have declined 31.2 percent over the past five years, from $ 43.3 billion in 2013 to $ 29.8 billion in 2018 and its food exports increased from $ 16.8 billion in 2013 to $ 25.8 billion in 2018.

Some experts believe that the country will, in the medium term, become a member of the club of ten major global exporters of agricultural products.

Sergei Yushin, chairman of the executive committee of the Russian National Meat Association does not link the development of animal protein production with the sanctions and country began to grow with plans such as tariff adjustments, subsidized loans, and export incentives.

According to estimates, the production of Russian poultry products has increased by more than 20 percent over the past five years.

large suppliers such as Brazil, Argentina, and India were not included in the list of sanctioned countries, and hence the animal protein production sector was always exposed to imports from these countries.

Finally, according to experts from the Russian Export Center (REC), most producers of poultry products in the country have benefited from the depreciation of the ruble against other currencies, as their production is less expensive than other imported products. Consequently, there has been a high demand for them from consumers.

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