Latin America and Russia at the world food market

Abstract

The global economic crisis caused by the COVID-19 pandemic has hardly affected the interests of food producing and exporting companies. Moreover, in the 2020-2021 “covid” years, their sales and incomes increased significantly, which was in stark contrast to the situation in many other sectors of the global economy that experienced a drop in production and exports. Many beneficiaries of the boom in international food markets included a number of agricultural enterprises (so-called agricultural holdings) of Latin America and the Russian Federation. This is due to the fact that, for a number of reasons, that the world food prices have gone up sharply and are now close to a historic high. This was most clearly manifested in the markets of grains and oilseeds, as well as meat and meat products, where the positions of Latin American and Russian business structures are particularly strong. The current situation on the world food market not only favors the further growth of companies producing agricultural products in Latin America and Russia, but also makes changes in the context of trade and economic Russian-Latin American relations. If relatively recently Russia almost exclusively acted as an importer of food, including from Latin America, now domestic agricultural holdings are developing their foreign markets, including the Latin American region, the exports of their products are increasing, and these holdings are resolutely entering into competition with companies from other countries. © 2022. All Rights Reserved.