Russia: in 2013 the profitability of agricultural production lowered by 5.3% - N.Fedorov
In 2013 the profitability of crops production in agricultural enterprises of Russia decreased to 9.3% as opposed to the previous year index of 14.6%, declared Nikolai Fedorov, Minister of Agriculture of the Russian Federation, on April 8.
He also clarified that the reporting index is formed taking into account provision of the government subsidies to agrarians.
If we do not take into account government subsidies, by the end of 2013 we would have a loss ratio of 1.7 % ," - said the Minister.
N.Fedorov noted that the Ministry expects for the profitability index in 2014 at 10%. The Minister stressed that the high credit debt load of agricultural producers, which continue growing, is one of the causes negatively affecting the profitability of agricultural production.
The situation is complicated by the inability to modernize crops production, apply innovative technologies which affect competitiveness of the Russian agricultural commodities, said the Minister.
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