According to experts, the escalation of the situation in the Persian Gulf region, while posing risks for Russia, also creates opportunities for agricultural producers.
A report published on the official website of the Russian Security Council emphasizes that the Russian Federation is among the countries with the highest level of food self-sufficiency.
In recent years, the country has achieved the planned indicators for key product categories, as outlined in the relevant doctrine, the Security Council representative notes.
Furthermore, Russia has significant potential to ensure food supplies to foreign markets.
Russia holds leading positions globally in wheat exports (20% of global supplies) and sunflower oil (30%), and is also a major player in the barley, corn, pork, and poultry markets.
Furthermore, Russia accounts for approximately 20% of the international fertilizer trade. Having domestic production of both agrochemicals and energy products allows it to effectively curb the rising cost of domestically produced goods.
Thus, it can be concluded that the country’s overall food security is at a fairly high level.
However, analysts note, local price fluctuations cannot be ruled out if a sharp imbalance between domestic and global prices for finished products arises.
For example, if global wheat prices rise sharply, domestic prices are also likely to rise.
Furthermore, products imported by Russia from other countries are at risk. Global logistical difficulties could lead to price increases for fruits, nuts, and chocolate, among other items.
According to experts, in the current situation, Russia should actively deepen its cooperation with partners in friendly blocs, primarily within the EAEU and BRICS.
This could involve serious measures, including the creation of joint food reserves. This would allow for maximum preparedness for any potential crisis and, if one arises, the avoidance of serious negative consequences.
Currently, experts note, the key risk factor is the blockade of the Strait of Hormuz. If the supply is cut off for three months or more, countries in the region will find themselves on the brink of a food crisis.
Russia, however, has sufficient potential to increase food supplies to countries in the Middle East, as well as Asia, Africa, and Latin America.
Therefore, the current situation could lead to Russian exporters gaining additional opportunities.
