Agricultural production in Russia will continue to grow in 2014 but at a lower rate, says deputy agriculture minister; around 170B rubles will be allocated to support agriculture in 2014

RUSSIA , January 30, 2014 () – Agricultural production in Russia will continue to grow in 2014 but at a lower rate, Deputy Agriculture Minister Dmitry Yuriev said at the V International Conference of Agricultural Producers.

The official said that the ministry will create conditions for the development of rural areas, farmers' co-ops, higher employment and household incomes, and improved regulation for agricultural markets.

The deputy minister also noted that around RUB 170bn (approx. USD 4.9bn) will be allocated to support agriculture in 2014. Meanwhile, RUB 18.3bn (approx. USD 529.5m) is needed to pay in subsidies on investment loans raised before January 1, 2013.

According to the Russian Statistics Service's preliminary estimates, total agricultural production reached RUB 3.55 trillion (approx.USD 102.7bn) from January to November 2013.

(c) 2014 RosBusinessConsulting

* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.