Natalia Shagaida, Head of the Agrarian Policy Department, Gaidar Institute told the Rossiiskaya Gazeta daily about the role of exports in the development of the Russian food market.

According to the data of the Agroexport Center of the RF Ministry of Agriculture, in 2020 Russia boosted food exports by 19% to $30.5bn and moved two positions upwards (from the 19th place to the 17th place) in the global rating of exporters of agricultural products. At present, the share of Russia in the global market is equal to 1.9%. The national project sets the goal to increase food exports up to $45bn by 2030.

However, fearing the appreciation of prices on the domestic market the Russian authorities have introduced export restrictions of late. So, from June 2 Russia sets a floating duty on grain. It will be calculated weekly on a global price basis. The initial duties on wheat, barley and corn will amount to $28.1 per ton, $39.6 per ton and $52.2 per ton, respectively. This is the way the government is going to stabilize prices of grain in Russia.

In Natalia Shagaida’s opinion, it is feasible to stabilize domestic prices of food during a short-term period by means of restrictions in terms of duties. However, it is important to strike the right balance and motivate farmers properly to produce products, Natalia Shagaida noted.