Revenues from Russian exports grow with a decrease in its volumes

According to the Agroexport center, the value of agricultural products sold abroad during 2021 amounted to $ 19.2 billion.

This is 18% more than in the same period last year.

At the same time, the average price for a ton of agricultural products increased by 28% and amounted to $ 500.

Fat and oil products export profitability has increased the most.

In total, it brought in income of $ 4.3 billion (+ 43% compared to last year). First of all, we are talking about sunflower oil, which was sold for $ 2.6 billion (last year — for $ 1.8 billion).

In second place are meat and milk (+ 26%).

This year’s sales of meat and dairy products totaled $ 878 million. The largest increase in income from the sale of beef: in 2021, it brought in $ 117 million, and this is three times more than a year ago.

Third place — grain.

It was sold for 5.6 billion dollars (+ 15% compared to last year). The lion’s share of grain exports is wheat ($ 4.1 billion), as well as barley, corn, and rice.

Turkey is still the main importer of Russian agricultural products ($ 2.4 billion). This year, she paid for Russian products 29% more than in the past.

The second place is occupied by the EU ($ 2.3 billion) and China ($ 2.2 billion).

Less exports in kind!

 

At the same time, such positive indicators are achieved exclusively due to high prices.

“Export growth took place only in value terms. In physical terms, it decreased by 8.5%. The real growth drivers were world prices: for fat and oil products — plus 60%, for grains — 23%, ”said Maxim Nikitochkin, senior manager of the EY agro-industrial complex services group. If we talk about export growth in physical terms, then only the meat and dairy segments were able to demonstrate it.

For example, the physical export of sunflower oil this year fell by 5%, and soybean oil — by 8%.

At the same time, vegetable oils rose in price by an average of 33%, meal — by 28%, margarine — by 17%.

All this makes it possible to sell such products abroad, gaining significant benefits even with a decrease in production volumes.

According to experts, today nothing prevents the increase in the production and export of fat and oil products, as well as meat, legumes, milk, and confectionery.

The development of Russian agricultural exports may be hampered, first of all, by high export duties, as well as a rise in the price of raw materials. For example, for confectionery manufacturers, a tangible blow was the rise in sugar prices: 1.6 times in 1 year.