30 Oct 2017 19:31

Russia could boost food exports to $150 bln per year by 2035 - AgMin

MOSCOW. Oct 30 (Interfax) - Russia could boost food exports to $150 billion per year by 2035, Russia's Agriculture Ministry said during preparations for an upcoming federal exhibition.

"Russia could become a global food supplier by 2035, providing its own population with quality food and feed over 250 million people through food exports, attaining a respectable position both on traditional food markets as well as future markets which are already today on the rise...In this way, Russian food exports could reach $150 billion per year," the statement said.

In addition, Russia would make up 7%-10% of the world market in each of the priority segments of innovative agricultural development, including smart agriculture, new food sources, accessible organic food, personalized food, and modern GMO. Moreover, the share of high-end jobs in agriculture would grow to 50% of the total jobs in the agricultural sector, the Agriculture Ministry said.

Russian Agriculture Minister Alexander Tkachev said earlier that exports of Russian agricultural products and food this year could grow to $20 billion, up from $17 billion in 2016.