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Significance
The impact of excess rain in some farming regions and drought in others has been compounded by grain export tariffs introduced to control domestic food prices. That, and lack of insurance, threatens the sustainability of many farms.
Impacts
Dry ground conditions and export tariffs are expected to reduce this year's winter wheat planting.
Online food sales are forecast to hit USD5.5bn this year and to grow to USD14.9bn by 2024.
Belarusian hopes of expanding food sales to Russia depend in a planned common agricultural policy, but agreeing it will take time.
Keywords:
Russia,
RUCIS,
CIS,
economy,
agriculture,
climate,
food,
foreign trade,
government,
policy,
prices,
welfare,
Food & Tobacco
© Oxford Analytica 2021. All rights reserved. This content contains general information about geopolitical, macroeconomic and social developments or (where stated) other matters. It does not contain advice or recommendations that may be relied on. Where links to external websites are provided, this does not indicate that Oxford Analytica or Emerald agree with, endorse or have checked for accuracy the contents of said sites.
2021
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