Russia's agricultural exports reach $43.5b in 2023

Russian exports of agricultural products stood around 43.5 billion U.S. dollars in 2023, First Deputy Agriculture Minister Oksana Lut said Tuesday at the Grain Forum 2024, reported Xinhua.

"Russia's (agricultural) exports amounted to 43.5 billion U.S. dollars last year, maybe a little more as there will be additional calculations," TASS reported citing Lut at the forum.

Russia exported 66 million tons of grain last year, including 51 million tons of wheat, she said, noting that the export potential of grain products this year was higher.

"The potential for supplying grain products to foreign markets is around 70 million tons this year, and 4 million tons for leguminous products," she said, adding that this goal is attainable.

According to the official, Russia's grain products are some of the most affordable in terms of the price-quality ratio. She said that the Russian Agriculture Ministry is currently discussing the possibility of providing guarantees to key partner countries for the supply of grain in the amounts they require to maintain food security.