Russia cuts agro exports 4.6% YoY to $23.9 bln in January-July 2024 - customs service

MOSCOW. Sept 10 (Interfax) - Russia cut exports of food products and agricultural raw materials, except textiles, 4.6% year-on-year to $23.9 billion in January-July 2024 from $25.1 billion in January-July 2023, the Federal Customs Service said in materials posted on its website.

Imports of the products dipped 0.8% year-on-year to $21.1 billion from $21.2 billion, respectively.

As reported, the presidential decree issued in May stipulates that the agro-industrial complex must boost exports of agricultural products 1.5-fold by 2030 compared to 2021. Calculations indicate that exports of agricultural products should reach $55 billion in 2030.

Russia increased exports of agricultural products to $43.5 billion in 2023 from $41.3 billion in 2022, while imports dipped to $35.1 billion from $35.8 billion, respectively.