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Agricultural Sector During the Pandemic

Denis S. Ternovskiy – Leading Researcher of the Russian Presidential Academy of National Economy and Public Administration, Doctor of Economic Sciences, Professor (Moscow, Russia). E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Natalia I. Shagayda – Director of Center for Agro-Food Policy of the Russian Presidential Academy of National Economy and Public Administration; Head of Agricultural Policy Department of the Gaidar Institute, Doctor of Economic Sciences (Moscow, Russia). Е-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

The agricultural sector saw sustainable production amid the pandemic, growth of 1.8% over ten months. The agricultural sector’s exports are surpassing the 2019 volumes and as early as December exceeded the 2020 FP Target Indicator “Exports of the Agricultural Sector’s Products” amid stagnating imports. The depreciation of the national currency and appreciation of prices on international markets incited motivation for exporting products, which in its turn led to a rise in domestic prices. With households’ incomes falling, the government had to develop new instruments to regulate food prices.

Key words: agricultural sector, AIC, food products, food prices, food prices regulation, pandemic.