The Ministry of Agriculture and the Ministry of Industry and Trade forecast the growth of the agricultural machinery market in Russia two times over five years, to RUR 200 billion. This was announced by Deputy Minister of Agriculture Jambulat Khatuov during a meeting on supporting the purchase of domestic agricultural machinery.
"Together with the Ministry of Industry and Trade, we prepared a forecast for the development of the market for domestic agricultural equipment for the next five years. We expect the market from today’s RUR 100 billion will rise to RUR 190-200 billion," he said. According to Khatuov, if the Government retains the ruling on the provision of subsidies to agricultural machinery manufacturers, the growth rate of agricultural production will be up to 10% per year, and the annual subsidy should be equal to RUR 30 billion. According to Khatuov's forecast, the leasing sales market should grow from RUR 40 billion in the current year to RUR 114 billion in five years.
Source: soyanews.info.
