The agenda of a round table at the State Duma devoted to agribusiness development included issues of the required level of meat, potatoes and vegetables production to avoid a critical situation in the country’s food market.
The food security can be compared with the country’s defensive capability. Such an example was given by Nikolay Pankov, Chairman of the State Duma Committee for agribusiness development.
"Experts estimate that Russia needs to produce at least 95% of meat, 75% of vegetables and potatoes. It is comforting that over recent years Russia has made strong progress and satisfied market demand”, he said.
However, statistics show that certain sectors still retain a potential for import substitution, in particular, pork and livestock meat production, milk, and fish products.
Russian Agricultural Bank plays an important role in ensuring food security of Russia.
Nikolay Petrov, professor at the National research university "Higher school of economics":
"When applying the criteria of food security, it is defined, in the first place, as self-sufficiency, development and retention of rural areas and agricultural producers. And in this sense, the instrument that Russian Agricultural Bank represents for the state in the field of sustainable rural development is a solution to the food security problem. If 100% of production, satisfying the internal consumption of agricultural commodities, is covered by a dozen of largest holdings, this is, on the one hand, security, and, on the other hand, poses serious risks in case of bankruptcy, in case of economic problems, that any of such holdings can be affected by. But if you have a million of such enterprises the cost and risk of this bankruptcy is different. In this sense, the state and RusAg, as its instrument, are interested in supporting not only large producers, that show higher efficiency, but also small businesses, that ensure, among other things, sustainable food security. "
Over the recent five years in the framework of the State Program of Agribusiness development RusAg has provided credit support in the amount of over RUB 200 billion for the implementation of about 2,000 investment projects.
Source: www.bfm.ru