Profitability of Russia's agricultural production decreased to 18% in 2023 - Ministry of Agriculture

MOSCOW. April 1 (Interfax) - The profitability of agricultural production in Russia decreased to 18% in 2023, Deputy Agriculture Minister Elena Fastova said at a press conference on Monday in Moscow.

At the beginning of February, the Agriculture Ministry estimated the figure at 18.9%, while profitability was 20.3% in 2022. These figures include subsidies.

Fastova also said that the revenue of Russia's agricultural organizations increased 7% in 2023 to about 5 trillion rubles. This is preliminary data, and "agricultural producers are still submitting reports," she said.