5 Jun 2024 14:08

Russia's agro-industrial complex conducted 325 export projects in 2023 - Agroexport

MOSCOW. June 5 (Interfax) - There were 325 export-oriented projects at various stages of development in Russia's agro-industrial complex last year with time horizons through 2026, and with investments totaling 1.029 trillion rubles, the Agriculture Ministry's Agroexport Center said in a review.

The value of the agricultural product exports generated by these projects is estimated at $9.919 billion by 2026.

The list of export projects initiated in previous years currently includes 251 projects with total investments of 963 billion rubles and estimated export revenue of $7.141 billion in 2026.

Agroexport said that 36 new projects were announced for implementation in 2023 with a total investment volume of 38 billion rubles and estimated export revenues of about $2.7 billion by 2026.

Meanwhile, 38 projects were suspended for whom investments totaled about 28 billion rubles. Their estimated export revenue is $78 million.

The structure of export projects remains relatively stable, the review said. The food industry, which traditionally has the highest added value, remains the leader in terms of number of projects, at 110. Of these, there are 14 specific projects for the production of confectionery products, 14 for the production of flour, grinding products and pasta, 12 for the production of feed and food additives, and 8 for potato processing.

In the oil and fat industry, which includes the deep processing of oilseeds, 53 projects are underway, including 21 for the processing of rapeseed, 18 for sunflower, and 12 for soybeans. Projects for the production of soy lecithin and the processing of oilseed flax are also underway.

There are 44 projects in the grain industry, most of which involve land reclamation (16) and the construction of grain storage complexes (14). In addition, there are eight projects aimed at developing port infrastructure, and six geared toward the production of seed material.

There are 39 projects underway in the meat industry, mostly for the production of chicken meat (16). In addition, there are nine pig-farming projects, six for beef production, four for lamb, two for turkey meat, and one each for duck and rabbit meat.

The review also reports that 38 projects are underrway in the fishing industry and 28 in the dairy industry, including a project for the production of dry adapted milk formulas.

There are eight deep grain-processing projects: four for the production of amino acids (lysine sulfate, lysine chloride), three for modified starch, and one for pea isolate.

In addition, the Russian Agro-Industrial Complex is implementing three projects for the export of industrial flax, and one each for wool and industrial hemp.

As reported, the Russian agro-industrial complex exported products worth $43.5 billion in 2023. The target for 2030 is $55.2 billion.