MOSCOW, January 29. /TASS/. Consolidated revenue of Rusagro rose by 20% in 2023 compared with 2022 to 310 bln rubles ($3.4 bln), the company reported.

"For 12M 2023 consolidated revenue of Rusagro before intersegment eliminations reached the record amount of 310,218 million rubles. In comparison to 12M 2022, the sales increased by 20% due to a significant increase in sales volumes in the agricultural and sugar segments," the report said.

Sales of grain, sugar beet and oil crops increased by 17% in the reporting period to 1.149 mln tons, by 66% to 3.247 mln tons, and by 280% to 649,000 tons, respectively.

In 2023, Rusagro produced 717,000 tons of crude vegetable oil, up by 12% compared with 2022. Sales of industrial products reached 1.437 mln tons in 2023, an increase by 12%. Sales of crude vegetable oil, meal and industrial fats increased by 14%, by 9%, and by 17%, respectively, in the reporting period.

Rusagro produced 928,000 tons of sugar last year, up by 20% compared with 2022. "The increase was due to the earlier start-up of factories, improved sugar beet processing rhythm and higher production efficiency in the 2023-2024 season," the company said. Sugar sales grew by 25% in the period to 1.065 mln tons "due to higher production volumes and increased export sales," the report said.

One of Russia’s leading producers of sugar, pork and fat-and-oil products, Rusagro Group supplies products to over 80 Russian regions and more than 49 countries worldwide.