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Russian Far East Soybean Exports Could Reach USD 600 Million in 2024

Pubtime:2020-02-24Author:Source: Hits:

Russian Far East Soybean Exports Could Reach USD 600 Million in 2024


The Russian Ministry of Agriculture has drawn up a draft government law to subsidize the production of the soybean oil and rapeseed oil, which will be subsidized under a federal program called “Export of Products from the Agro - Industrial Complex”. The subsidy is expected to reach 8 billion rubles by 2024. The financial commitment will be distributed to regions that have chosen to produce soybeans and rape as the main businesses of the agro-industrial complex. Subsidies will be distributed according to the ratio of soybeans and rape sold or shipped per ton for their own processing.