Russia to increase effectiveness of support for agribusiness, including subsidized loans - Putin

MOSCOW. Oct 9 (Interfax) - The Russian government will increase the effectiveness of instruments to support the agribusiness sector, President Vladimir Putin said in a video message to mark Agriculture and Processing Industry Workers Day.

"We will increase the effectiveness of instruments of state support for the agribusiness sector, including preferential loans and rates for transporting products, subsidies, leasing and irrigation programs. We will certainly solve issues related to providing enterprises, farmers with machinery, fertilizer and fuel and lubricants," Putin said.

He said particular attention needs to be paid to related sectors of the economy that rely on the agribusiness sector.

"This is farm machinery manufacturing, production of equipment for the food industry and so on. In these areas we must also achieve technological sovereignty. It is important to harness the potential of sectoral science so that the research of our scientific institutes in the area of selection, seed growing and biotechnology are sought after in production and introduced at an accelerated pace," Putin said.

He also said that "this year the country will again have a good harvest of grain and oil crops, vegetables and fruit, and increase production of meat, milk and fish."

"Today our farmers provide the domestic market with all the main types of food. The sector's export potential is also growing. The products of the agribusiness sector are already among the key items of Russian exports and for a number of items, such as wheat and fish, our companies are global leaders," Putin said.