The harvest of Russian corn has started to take shape and some of the country’s farmers are now pushing to take over farmland that’s been left vacant.
The Russian agricultural sector, which is estimated to be worth $15 billion a year, is expected to see growth of up to 8 percent this year.
In a country where many people have struggled to get by in recent years, Russian farmers are beginning to take advantage of a shrinking middle class and the opportunity to boost their businesses.
The country’s largest producer of soybeans, Vnesheconombank, expects corn yields to reach 11 million tons in 2020, compared with 11 million in 2019.
In other words, the country will produce roughly 1.6 billion tons of corn this year, or one fifth of what it had produced in 2020.
Farmers say they’re able to capture more of the market because they can produce more corn per acre than their neighbors.
The farmers say they are being compensated by other farmers, who have grown crops for them.
The price of corn has soared since the crisis hit.
Now it’s estimated that Russia’s grain market will shrink by $20 billion to $35 billion by 2020, a 27 percent reduction, according to the Central Bank of Russia.
Russia’s corn farmers have had to adapt to a world where prices have plummeted and the country needs to make a huge investment to grow crops.
The price of food has dropped 40 percent, from $30 per kilogram in 2015 to $12 per kilo in 2018, according a government report.
That’s been a huge challenge for many farmers.
Some have sold off farmland to foreigners, including China, Russia and Brazil.
Others are trying to protect their lands by selling off plots of their own.
A recent report from the Russian Academy of Sciences estimated that about 20 percent of the Russian farmland is under threat of being sold.
The situation has made the country one of the most expensive countries in the world for farmers to farm.
According to the United Nations, Russian corn yields fell by 15 percent between 2011 and 2018, the largest fall in the European Union.
That’s partly because of the price crash and partly because Russian farmers lost access to a wide variety of natural resources.
The government has struggled to ensure that its farmers have access to water and other essential services.
And the government has imposed new taxes on the food industry.