Some good news about Russia!
Amid a multiyear, brutal slump in grain prices, Russian agriculture is thriving. The country exported more than 40 million tons of wheat in the year ending June, around 50% more than the previous year, and the highest level for any country in the past quarter-century. Russia overtook the U.S. as the world’s biggest exporter of wheat in 2016, and again beat the U.S. in 2018.
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Russia’s surge of agriculture exports, including grains, fish and meat, is part of an effort to diversify the economy away from crude oil. Oil and natural gas were once the source of half of federal budget revenues. With oil prices still down 25% from their high in 2014—recovering from a swoon of more than 60%—exports now account for around 40% of budget revenues.
https://www.wsj.com/articles/grain-is-our-oil-russia-is-besting-the-u-s-as-a-wheat-powerhouse-1537719747
US ag state legislators should figure out the climate change trends will absolutely benefit Russian agriculture, and lobby accordingly.
ReplyDeleteNot holding my breath.