Russian exports of agro products 10%-11% YoY higher in tonnage in 2024, lag in value - Agriculture Minister

KAZAN. Aug 23 (Interfax) - Russian agricultural exports are 10%-11% higher year-on-year in 2024 in terms of tonnage, Agriculture Minister Oksana Luth told journalists in Kazan.

However, there is a lag in terms of value compared to last year's figures owing to a decline in prices for nearly all exported products, she said.

"Exports are 10%-11% higher this year than last year in tonnage. I think that we lead everyone in terms of tonnage. We are moving at a very good pace. However, we are not yet making up the money, we are lagging, as our prices have fallen significantly compared to last year for nearly all raw materials and processed products, including oil, meal, and meat products," Luth said.

"However, plus 10%-11% is a very good indicator in terms of tonnage. I think that we should maintain this pace approximately," she said.

As reported, Russia exported agricultural products totaling $43.5 billion in 2023. The ministry has previously targeted exports of agricultural products totaling $45 billion in 2024.