Russia cuts agro exports 4.7% YoY to $27.3 bln in Jan-Aug 2024 - Federal Customs Service

MOSCOW. Oct 10 (Interfax) - Russia cut exports of food products and agricultural raw materials, except textiles, 4.7% year-on-year to $27.3 billion in January-August of this year from $28.6 billion last year, the Federal Customs Service (FCS) posted on its website.

Imports of these products rose 1.8% to $24.2 billion this year from $23.8 billion in January-August 2023.

As reported, the presidential decree from May has instructed the agro-industrial complex to boost agricultural exports 1.5-fold by 2030 compared to 2021. Agricultural exports should reach $55 billion in 2030 according to the calculations.

Russia exported agricultural products totaling $43.5 billion in 2023 compared to $41.3 billion in 2022, and imports totaled $35.1 billion compared to $35.8 billion the previous year.