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Profitability of Russian agricultural producers was 19% in 2023 — ministry

"We see that revenues moved up by 10% and profits of agricultural producers remained in general at the 2022 year level," Deputy Minister of Agriculture Elena Fastova noted

MOSCOW, April 12. /TASS/. The profitability of agricultural producers in Russia lost 1 percentage point from 20% in 2022 to 19% in 2023, Deputy Minister of Agriculture Elena Fastova told reporters.

"The profitability of agricultural producers stood at 19% in 2023. The profitability peak was 25% in 2021. The profitability somewhat declined over the last two years. It was 20% in 2022; 19% in 2023," Fastova said.

The drop is not significant, she noted. "We see that revenues moved up by 10% and profits of agricultural producers remained in general at the 2022 year level," she added.

The profitability of the vegetable planting sector totaled 26% in 2023, which is lower than in 2022, the official said. "We understand, high yields apply pressure on prices. Our grain prices are low so far and the profitability is therefore kept at the level of 17% for grain crops," she added.