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Agriculture production growth by 1.3% in 2019 – the Ministry of Economic Development

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The Ministry of Economic Development publish the predictions for 2022, approved by the Government. According to the document, the growth of agriculture in Russia in 2019 will amount 1.3% in comparison with 2018, food production will increase by 3.7%.

According to the Federal State Statistics Service, agriculture in 2018 declined by 0.6%, food production grew by 4.9%.

The document from the ministry of Economic development states that by the basic scenario, in 2022 agriculture will increase by 6.7% in comparison with 2018, in 2024 – by 11.4%, food production – by 17.7% and 30%correspondingly.

Authors of the document consider that in the mid-term perspective the agriculture development will be influenced by the growth of population and financially reliable demand for food, increase of living standards in developing countries, recreation of households’ demand due to the real income growth, development of the market of biotechnologies, allowing to solve most economic and ecological problems.

Selective-genetic innovations will result in new varieties of plants with increased yield, resistant to the unfavourable conditions, diseases and pests, as well as development of new breeds of cattle and poultry. The market of organic products, widespread in developed countries, will continue to develop. “Russia possess fruitful land resources, thus it has a huge development potential of healthy and sustainable food with further expansion to the worlds market”, states the document. – говорится в документе.

Development of the export potential of agriculture is closely connected with the export of value-added goods.

Source: www.finmarket.ru

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