Last year Russia smashed all records bringing in 134mn tonnes of grain and earned a whopping $20bn from exports – more than it gets from selling arms abroad. Russia is now the biggest exporter of grain in the world and it is only getting started.
Ukraine is also seeing a revival of its agricultural sector where a handful of big companies are flourishing, despite the countries economic woes. However, both countries are still operating well below their potential thanks to the lack of reform, underinvestment and endemic corruption.
bne IntelliNews editor-in-chief Ben Aris talks to Mike Lee, an independent agricultural consultant that has just returned from his annual tour of the Black Sea region about the state of this year’s crop (its going to be good) and the prospects for the sector.
Ben Aris, editor-in-chief bne IntelliNews
Mike Lee, independent agricultural consultant