MOSCOW, April 1. /TASS/. Profitability of Russia’s agriculture production declined to 18% in 2023, Deputy Agriculture Ministry Yelena Fastova told a press conference.

"Profitability of agriculture producers will total 18%, according to preliminary estimates, which is 2 percentage points lower than in the previous year," she said.

Revenue of agriculture entities rose by 7% in 2023 compared with 2022 to 5 trillion rubles ($54.5 bln), the official added.

Fastova said in early February that profitability of agriculture producers in 2023 was estimated at 18.9%, whereas in 2022 it totaled 20.3%.