The import of basic agricultural crops has been reduced by more than half.
As part of the strategy to ensure Russia’s food sovereignty, the Ministry of Agriculture has introduced quotas on the import of agricultural seeds, which came into effect on March 1, 2024.
According to the new rules, foreign seed companies can operate in Russia only through joint ventures controlled by Russian partners holding 51%. These changes have already led to a reduction in the import of basic agricultural crops by more than two times, accompanied by an increase in seed prices.
It is planned that by 2027, Russia will achieve self-sufficiency of at least 75% in the production of seeds for key crops. Despite sufficient wheat seed production, Russian breeding of other essential crops, such as corn, potatoes, and sugar beets, still depends on foreign counterparts.
To overcome this problem, investments in the development of domestic seed breeding, improvement of regulatory frameworks, government support, and the involvement of related industries are necessary. For this purpose, the CREON Group will host the second industry conference “Seeds of Russia 2024” on March 26 in Moscow, where the prospects of domestic breeding, necessary measures, and opportunities for private investment will be discussed.
Photo: freepik
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