Agriculture Minister Nikolai Fyodorov said that this year’s harvest is expected to bring in at least 100 million tonnes of grain, and potential export stock is estimated at 27 million tonnes.
Mr Fyodorov also said that after Russia banned food imports in response to sanctions, a number of countries have come forward with alternative markets and proposals, including Turkey, Latin American countries, Iran, China, and Vietnam. Work on import replacement is also going ahead with Customs Union members Belarus and Kazakhstan.
Deputy Prime Minister Arkady Dvorkovich said that Russia’s own agricultural producers will substantially increase their supplies to the market over the next three to five months. The Government is making adjustments to the state programme for agriculture development in order to encourage import replacement over the next three years.
Prices for fuels and lubricants were also discussed at the meeting, with the anti-monopoly agencies being instructed to keep close watch on any increase in their cost.