Cattle imports in Russia are up 53 percent over four years
Since Russia imposed the groceries embargo in 2014, imports of cattle into the country have gone up by more than half, or 53 percent, according to Milknews. While five years ago Russia was importing some 74,600 head of cattle per year, last year almost 115 thousand head of cattle was imported. In money terms imports grow from USD 183 million to USD 227 million.
Experts believe the groceries imports embargo led to an explosive growth in Russia’s cattle industry and the implementation of a number of new projects such as the construction of major cattle breeding farms and that was the main reason why there has been a spike in imports of cattle. According to the Investment Projects analytical center, last year alon some 88 new dairy farms had either been built or were in the process of being built in Russia.
It is noted that a lot of Russian entrepreneurs operating in dairy and meat production don’t take domestically bread cattle serious, regarding it significantly less productive than imported cattle. At the same time, it’s important to note that this year saw the cancellation of the zero VAT rate for the importation of breeding cattle into Russia to promote domestic production (the VAT rate is now 20 percent).
It should also be reminded that earlier it was reported that since the beginning of this year the price of mutton has significantly increased in Russia, reaching new highs. In addition, it should be noted that exports of Russian agricultural products is expected to total USD 24 billion.