The Ministry of Agriculture of Russia plans to double soybean production volumes in the country, the Minister of Agriculture of the Russian Federation Alexander Tkachev declared.
According to him, increasing of the domestic production of the oilseed would break the dependence on imports of low-quality soybeans, including genetically modified oilseed, as well as allow increasing the export potential.
According to the Ministry’s figures, last year the soybean exports from Russia increased 5 times and exceeded 380 thousand tons (in 2014 – 79 thousand tons). The exports of Russian soybean oil increased by 25%, to 440 thousand tons.
At the same time, the Northwestern region provides the major foreign supplies of soybean oil, because the Far Eastern region mainly exports soybeans. In the first half of 2016 the exports of soybeans increased by 50% and exceeded 280 thousand tons. (APK-Inform/Business World Magazine)