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REC Group nearly doubles support for agricultural enterprises in 2021

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Russian agribusiness received 1.7 times more support in 2021 than in the previous year, a trend that will continue through 2022.

The Russian Export Center (REC, part of VEB.RF) Group is stepping up its support for agricultural export companies, said Nikita Gusakov, senior vice president of REC and CEO of EXIAR, Cherkizovo in Yelets, Lipetsk. said at the opening ceremony of the group’s oil extraction plant. .

“The agribusiness industry has become one of the fastest growing non-energy export sectors in Russia in recent years. The REC Group has systematically increased the amount of support to domestic agricultural enterprises: in 2021, it increased by 1.7 times compared to the previous year,” Gusakov said.

He further noted that the first half of 2022 also saw a significant increase in support compared to the same period last year. Gusakov added that the opened oilseed processing facility will allow the company to develop feed bases and optimize the cost of its main product, as well as significantly expand its export potential.

“Demand for soybean oil is stable and high in many countries in Southeast Asia and North Africa, and the REC Group is working with the Cherkizovo Group on the most promising export destinations,” Gusakov said.

The Cherkizovo Group started operations at its oil extraction plant on August 11th. It is Russia’s largest high-protein oilseed processing facility with a capacity to process approximately 1 million tons of soybeans per year (2,500 tons per day). The plant produces soybean oil, soybean meal, husks and lecithin to supply the company’s nine feed mills in different regions of the country.

In addition, Cherkizovo Group plans to export the factory’s products to China, CIS countries and other regions. At the inauguration ceremony, Cherkizovo Group CEO Sergey Mikhailov, Russian Minister of Agriculture Dmitry Patrushev and Lipetsk Governor Igor Artamonov pressed the symbolic start button to mark the start of the business. .



https://sputniknews.com/20220811/rec-group-nearly-doubled-support-for-agricultural-companies-in-2021-1099489543.html REC Group nearly doubles support for agricultural enterprises in 2021

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