In 2021, Rusagro farmed 604 ths hectares and grew 5 mn tonnes of agricultural products: sugar beets, grains and oilseeds.

Overview of the Russian agricultural market in 2021

Due to weather conditions in 2021, Russian agricultural agricultural producers came against the need to reseed winter crops. This led to a decrease in the wheat and barley yields by 13.0 mn tonnes (–12%) and a 9.4 mn tonnes (–21%) reduction in exports of these crops. The latter was also added up by the imposition of duties. Market prices rose for the second consecutive year for all the major crops, including maize, sunflower, soybeans and sugar beet.

76 mn tonnes
harvest of wheat in Russia in the 2021/2022 season
39 mn tonnes
harvest of sugar beet in Russia in the 2021/2022 season
16  mn tonnes
harvest of sunflower in Russia in the 2021/2022 season
Rusagro among Russia's largest agricultural land holders as of May 2021
14.4 ths RUB/t, excl. VAT
average price of wheat in Russia in 2021
31  mn tonnes
wheat exports from Russia


Rosstat’s preliminary figures indicate that the production of wheat, barley and maize in the 2021/2022 season was set at 108.6 mn tonnes, 10% (−12.1 mn tonnes) below the season earlier. Such drop was caused by a decline in lower wheat and barley harvest after a particularly productive previous season, by 12% (−10.0 mn tonnes) to 75.9 mn tonnes and by 14% (−3.0 mn tonnes) to 18.0 mn tonnes, respectively.

Furthermore, both the area sown with these crops and their yields decreased due to the difficult wintering conditions, which led to a high percentage of winter crops dying and being reseeded by spring crops, mainly oilseeds. Maize demonstrated a positive trend, with a 6% increase in harvest (+0.8 mn tonnes), and stood at 14.6 mn tonnes.

Gross yield of grain crops in Russia  mn tonnes
Area under grain crops in Russia mn ha
Grain crops yields in Russia tonnes/ha

Source: Rosstat (Russian Federal Service for State Statistics) (preliminary data)

76 mn tonnes
WHEAT HARVEST IN RUSSIA in the 2021/2022 season
18 mn tonnes
BARLEY HARVEST IN RUSSIA in the 2021/2022 season
15 mn tonnes
MAIZE HARVEST IN RUSSIA in the 2021/2022 season
This market review covers fewer than all crops grown in Russia and includes the crops holding a significant share of the gross yield of Russian producers, including Rusagro. Thus, the Report addresses sugar beet, as well as wheat, barley and maize as grain crops, and sunflower and soybeans as oilseeds. Data for other crops can be found on the Rosstat website.

Preliminary sunflower and soybean harvest data for the 2021/2022 season indicate a 15% increase of (up 2.7 mn tonnes) in the aggregate, which totalled 20.3 mn tonnes. The sunflower output posted a considerable rise of 17% (up 2.2 mn tonnes) and reached 15.5 mn tonnes, fuelled by the growing area under this crop (+14%) due to the reseeding of dead winter crops.

16  mn tonnes
Gross yield of oil crops in Russia  mn tonnes
Area under oil crops in Russia mn ha
Yield of oil crops in Russia tonnes/ha

Source: Rosstat (Russian Federal Service for State Statistics) (preliminary data)

After a five-year record low harvest in the 2020/2021 season, when agricultural producers encountered adverse weather conditions, the sugar beet crop showed a 14% increase (up 4.8 mn tonnes) in gross output and stood at to 38.7 mn tonnes. The increase covered both crop yields (+10%, up to 40.6 t/ha) and cropped area (+8%), helped by the more stable sugar prices in Russia.

39  mn tonnes
SUGAR BEET HARVEST IN RUSSIA in the 2021/2022 season
Gross yield of sugar beet in Russia  mn tonnes
area under sugar beet in Russia mn ha
Yield of sugar beet in Russia tonnes/ha

Source: Rosstat (Russian Federal Service for State Statistics) (preliminary data)

Key players

According to BEFL — accounting and consulting company, five largest farmland owners controlled 3.8 mn ha of agricultural lands as of May 2021. During the year, they increased their land bank by 32 ths ha (+1%). Russia’s largest meat producer, Miratorg, tops the list with an estimated land bank of 1,047 ths ha. Rusagro ranked fourth with a land bank of 637 ths ha. As of the end of 2021, the Company had 689 ths ha of land under management, and this figure will be taken into account in the May 2022 ranking.

Rusagro’s place by the agricultural land bank size in Russia as of May 2021

Source: BEFL, May 2021

Exports and imports

In 2021, exports of the main crops considered herein sat at 39.9 mn tonnes, down 22% (down 11.2 mn tonnes) from 2020. For example, shipments of wheat, barley and maize fell by 9.4 mn tonnes (−20%) and those of sunflower and soybean — by 1.8 mn tonnes (−63%). Exports of wheat dropped the most (down 8.1 mn tonnes, or −21%) as a result of lower yields and government restrictions, as did sunflower exports (down 1.3 mn tonnes, or −96%).

In 2021, Turkey, with a 21% share, topped the list of Russia’s biggest grain importers. Volume of shipments thereto totalled 8.0 mn tonnes (+1%). Even with purchase volume reduced by 24%, Egypt was the second significant buyer, purchasing 5.1 mn tonnes of grain crops in the reporting period.

The main crop imported in Russia is soybeans — 1.8 mn tonnes of this crop were imported in 2021, down 11% (−0.2 mn tonnes) from a year earlier. The downward trend is driven by the high level of domestic oilseed production, the postponed commissioning of new oil-extraction capacities, and the simplied import procedure of genetically modified meal into Russia. The main importers of soybeans are Brazil (46% of supplies) and Paraguay (40%). The volume of all crops imported into Russia was 2.1 mn tonnes (−13%).

Breakdown of grain exports by destination in 2021 %

Source: Federal Customs Service of Russia (preliminary data)

31  mn tonnes
wheat exports from Russia in 2021
mn tonnes
soybean imports to Russia in 2021
Governmental restrictions

In 2021, Russia imposed a number of export restrictions on grains and oilseeds. In addition to the quota of 17.5 mn tonnes for grain exports, there were duties on wheat, corn and barley. Duties on sunflower, soybean and rapeseed were in effect in 2021 and will continue to be so until August 2022.


In 2021, the average annual price of agricultural products in Russia kept rising for the second year in a row. Thus, prices for wheat, barley and maize rose by 15% (to 14.4 ths RUB/t), 28% (to 12.8 ths RUB/t) and 20% (to 14.4 ths RUB/t) respectively. The key contributors to this trend were a poor wheat and barley harvest in the 2021/2022 season and higher world prices resulting from lower production due to adverse weather conditions, with the latter being partly offset by grain export duties.

Prices for grain crops in Russia ths RUB/t, excl. VAT

Meanwhile, after a record low in sugar beet prices in 2019, the prices were trending upwards for the past two years, following a decline in crop volumes amid adverse weather conditions in 2020 and a subsequent rise in sugar prices. In 2021, prices witnessed their highest level in five years. According to preliminary data from Rosstat, the price of sugar beet spiked by 48% over the year and sat at 3.3 ths RUB/t, annual average.

Prices for sugar beat in Russia ths RUB/t, excl. VAT

Source: Rosstat (Russian Federal Service for State Statistics) (preliminary data)

Oil crops showed an even higher rate of price escalation year-on-year. Domestic sunflower prices went up by 73% and reached 41.4 ths RUB/t, while soybean prices rose by 63% and stood at 43.7 ths RUB/t. That also related the global market situation, involving higher palm oil prices, growing demand in China due to the gradual recovery of pork production and the loss of the rapeseed crop in Canada due to bad weather conditions.

Prices for oil crops in Russia ths RUB/t, excl. VAT

Source: APK-Inform

Rusagro's Agriculture Business results in 2021


Rising market prices and improved sugar beet harvest caused Rusagro's Agriculture Business to post record high revenues in 2021. Revenues increased by 22% and amounted to RUB 41.9 bn (up RUB 7.5 bn) and adjusted EBITDA went up by 53% (up RUB 8.1 bn) and stood at RUB 23.3 bn. Driven by the sales of 2020 products, business profit margin reached 56% (+11 p.p.).

Operating results

689  ths ha
farming land area
by the size of Russian land bank
4.8  mn tonnes
sales volumes of agricultural crops

Financial results

41.9 RUB bn
23.3  RUB bn
Adjusted EBITDA
11 p.p.
Adjusted EBITDA margin

Business overview

In 2021, the total area of land under Rusagro’s management by the end of the year amassed 689 ths ha, increasing by 52 ths ha (+8%) due to a land lease agreement in the Saratov Region. The share of arable land is 88%. The expansion of the land bank was mainly hindered by the major increase in land prices in Russia against the background of high prices for agricultural products and the availability of spare capital in the country.

The total storage capacity, including four elevators and five grain storage sites, totalled 997 ths tonnes (+0%).

Rusagro’s land bank area ths ha
Note: Arable land includes fallow land and layland
604 ths ha
area of Rusagro’s arable land in 2021

Legal structure of lands

Rusagro's agricultural land ownership structure changed in 2021. As at the end of 2021, Rusagro owned half (50%) of all the Company's agricultural land. With short-term land leases in the Saratov Region, the proportion of land owned by the Company shrank from 54% to 50%. Other reasons for the change in the lease share were the renunciation of leasehold rights on several inefficient land plots and the acquisition of ownership in a number of leasehold land plots with common ownership.

Legal structure of Rusagro’s land bank %
Cultural treatment and top dressing

Regional structure of arable lands

Most of Rusagro’s agricultural land is located in the Central Black Earth Region of Russia, mainly characterised by highly fertile chernozem black soils. The largest areas of arable land are in Belgorod and Tambov Regions – 257 ths ha (+1%, or 3 ths ha) and 139 ths ha respectively by the end of 2021. The Company’s Agriculture Business has 86 ths ha (+2%, or 2 ths ha) of arable land in the Primorye Territory under management. In 2021, the Company leased land in the Saratov Region (39 ths ha of arable land).

Regional arable land structure in 2021 %


Rusagro's 2021 investments in development and maintenance of the Agriculture Business totalled RUB 2.7 bn, up 31% year-on-year. Higher investments in business development were related to the purchase of machinery to work on a new land area in the Saratov Region and the implementation of a batching plant project in the Central Region. Meanwhile, the maintenance required more funds given the need to renew soil preparation and fertiliser equipment, as well as to renovate passenger and light car fleet. According to the year-end results, 66% of investments were absorbed by development projects.

Rusagro’s investments in Agriculture Business RUB bn
2.7  RUB bn
Rusagro's investments in Agriculture Business

The major investment projects


Purpose: procurement of necessary machinery for the new arable land to enable cultivation of crops, compliance with the agronomic time requirements and crop rotation

Project cost: 1.6 RUB bn, excl. VAT

Implementation period: June 2021 to December 2022

Investment volume in 2021: 0.6 RUB bn, excl. VAT


Purpose: mitigation of risks of poor quality crop treatment through technology-related errors

Implementation period: October 2020 to May 2022

Project cost: 0.4 RUB bn, excl. VAT

Investment volume in 2021: 0.3 RUB bn, excl. VAT

The change in the crop rotation pattern in 2021 was brought about by the abandonment of barley cultivation due to its low profit margin relative to other crops (3% of the sown area in 2020), the reseeding of some amount of wheat with sunflower and the increase in fallow areas as new land plots were leased in the Saratov Region.

IT and innovations

In 2017–2018, the Rusagro's Agriculture Business developed a digital management transformation strategy for 2018–2022 to increase efficiency along the entire production chain. In 2021, the strategy's goals were accomplished through the development and implementation of five key planning algorithms for business operations, which are an integral part of the overall smart farming system of the Company.
Crop rotation planning
Strategic planning and budgeting algorithm

Profit maximisation by choosing the best sequence of crops

Field preparation and handling
Automation of batching plants

Minimisation of errors in mother liquor technology and misappropriation of crop protection agents (CPA)

Planning algorithm for process operations

Increased yields as a result of precise and timely adherence to process operations

Planning algorithm for harvesting operations

Increased gross yields through precise harvest timing

Crop logistics
Planning algorithm for own and hired trucks

Finished goods transportation time and cost optimisation by increasing the transport turnover rate and streamlining the logistics service

Placement and sale of finished products
Planning algorithm for the placement and sales of finished products

Higher revenues through better rotation of storage locations and planning of the sales schedule, as well as logistics costs optimisation

Digital fields

Rusagro's field management automation function is realised through digital field twins containing information on electronic field boundaries, crop history, handling operations and nutritional characteristics of the soil in the fields. Operational field monitoring tasks are addressed by analysing the satellite image-based NDVI index and field scouting by agriscientists. This optimises the use of machinery and vehicles, crop area, fertiliser and CPA quantities and application zones, and allows for better control over the timing sowing and harvesting.

Soil fertility recovery project

In 2021, Rusagro initiated a project to improve soil fertility based on fertility models generated for each field in the study area with a view to increase the yield of cultivated crops. Such models will represent the set of agronomically relevant soil properties and regimes which allow for most efficient use of land resources and maximise yields without loss of quality. The first models were generated following the year-end results – Rusagro will start the roll-out under these models from the beginning of the 2022 field season. Model generation is expected to cover more fields in 2022.

SoyuzSemSvekla genetics and breeding centre on accelerated creation of advanced sugar beet hybrids

Together with Schelkovo Agrochem, Rusagro has been involved in the development of yield-enhancing sugar beet hybrids since 2017. SoyuzSemSvekla, a genetics and breeding centre, was opened in the Voronezh Region in 2019. The Centre focuses on creating new high-yielding, disease-resistant sugar beet hybrids that are equal in basic biological and morphological characteristics. The sugar beet hybrids of our own breeding are registered in the National Register of Breeding Achievements Approved for Use in Russia. SoyuzSemSeekla has been selling the seeds of its hybrids in all key beet-growing regions since 2021.

SoyuzSemSvekla genetics and breeding centre works in the framework of the Federal Scientific and Technical Programme for the Development of Agriculture for 2017–2025, the Sub-programme for the Development of Selection and Seed Production of Sugar Beets in the Russian Federation according to the designed comprehensive scientific and technical project “Development of Highly Competitive Sugar Beet Hybrids of Domestic Breeding and the Organisation of their Seed Production System”. In 2019, a commission of the Russian Ministry of Agriculture qualified this project for governmental support, which was received in 2020–2021. SoyuzSemSvekla was granted Skolkovo resident status in 2021.

AssistAgro is a machine vision technology for agronomic decision-making

AssistAgro AssistAgro LLC is not included in the Group’s legal structure; the company’s founders are Vadim Moshkovich and Maxim Basov. was established in 2021 to develop crop management technologies at Rusagro and to offer these technologies to the market. AssistAgro mainly deals with the development of an automatic open field plant diagnostic system based on photo analysis, yield forecasting, recommendations for increasing returns per hectare and robot-assisted operations management. With remote diagnostics and precision farming tools, agricultural companies will also be able to improve control over their carbon footprint and impact on soil fertility.

In 2021, the Company received Skolkovo resident status and accreditation from the Ministry of Digital Development, Communications and Mass Media of the Russian Federation as an IT company. In December 2021, AssistAgro, together with Rusagro-Invest, won a grant to implement and refine artificial intelligence in crop production from the Skolkovo Foundation (VEB.RF Group) under the federal Artificial Intelligence project of the Digital Economy of the Russian Federation national programme. AssistAgro's project to introduce a weed identification and crop density counting solution received a highly positive evaluation by the competition members.

AssistAgro's first product, an automated field scouting and digital agri-service management system, is now available to the market. The second product – an advisory system with yield and profit forecasts for different technology scenarios – is planned to be presented by the end of next year, and an automated machinery and vehicles control solution – in another year.

Operating results


Rusagro's 2021 total output was 4,956 ths tonnes, up 494 ths tonnes (+11%) from a year earlier. The higher figures were largely attributed to the increased gross sugar beet yield, amounting to 3,637 ths tonnes, up 748 ths tonnes (+26%) year-on-year. Such results were achieved through rising crop yield to 40.5 t/ha (+17%) thanks to wind erosion control activities and record yields in recent years on irrigated land. The area under sugar beet expanded by 8% (+6 ths ha) and amassed 90 ths ha.

Rusagro's sugar beet harvest ths tonnes

The gross grain harvest suffered a decline upon the refusal to sow barley (18 ths ha in 2020) and unfavourable weather conditions for winter crops: due to extreme wintering conditions, as well as low moisture levels and high temperatures during the grain filling period, wheat yields fell from 5.1 to 4.1 t/ha. As a result, the wheat production totalled 713 ths tonnes (–29%) and barley – 2 ths tonnes (–98%). However, the Company still boosted the gross harvest of maize by 51% (to 163 ths tonnes) by reducting its sowing period and optimising its harvesting time.

Rusagro’s harvest of grain crops ths tonnes
Gross harvest of grain crops t/ha

Another positive development was associated with higher gross yield of oil crops, which was attained through the expansion of planting area. Thus, the soybean output rose by 21% (+60 ths tonnes) and the sunflower output – by 7% (+5 ths tonnes) owing to the 22% (+35 ths ha) and 26% (+6 ths ha) increase, respectively, in planting areas under these crops. The growth of the soybean crop was restrained by high temperatures and lack of rainfall during the soybean blossom period, and that of sunflower – by its use as a crop to reseed winter wheat die-off without basic autumn tillage. This reduced soybean yield by 2% to 1.7 t/ha and sunflower yield by 15% to 2.5 t/ha.

Rusagro’s harvest of oil crops ths tonnes
Gross harvest of oil crops t/ha


In 2021, sales volumes of Rusagro’s Agriculture Business climbed by 13% and reached to 4,838 ths tonnes compared to 2020. The positive dynamics is associated with the growth of the sugar beet harvest and a higher level of wheat carry-over at the end of 2020. Sales of sugar beet went up by 22% (+637 ths tonnes) and wheat — by 17% (+114 ths tonnes) year-on-year.

Grain sales, which fell by a total of 8% (−76 ths tonnes), were affected by the abandonment of barley cultivation as a relatively low-margin crop and the transfer of some maize volumes to 2022 in expectation of better prices. Barley sales fell by 91% (−112 ths tonnes) and maize — by 52% (down 78 ths tonnes) compared to the previous year.

Oil crops sales also declined (−5%, down 19 ths tonnes). Sunflower sales volumes dropped by 24% (down 18 ths tonnes) year-on-year due to lower sunflower carry-overs at the end of 2020 and the transfer of some volumes to 2022 due to the expectation of higher prices. The level of soybean sales remained roughly at the previous year’s level.

All sugar beet (100%) of the Agriculture Business is sold to Rusagro's sugar plants. Part of the grain crops goes to the Meat Business for feed production – in 2021, the share of internal sales slipped down from 37% to 18% due to heightened third-party demand. The share of oilseeds supplied to Rusagro's plant spiked from 3% to 15% upon launching an oil extraction plant to process soybeans in the Primorye Territory.

Domestic sales became more profitable against the backdrop of export restrictions, while export shipments of agricultural products fell by 63% (down 174 ths tonnes). For example, 87 ths tonnes of grain and 14 ths tonnes of oilseeds were sold outside Russia – down 26% and 91% respectively from the year earlier. All the grain crops were sold to Asian countries – Japan, China, and Korea.

Rusagro’s sales volume mn tonnes
Rusagro’s sales volume of grain crops ths tonnes
Rusagro’s sales volume of oil crops ths tonnes
Export volume of Rusagro's agricultural products, ths tonnes

Financial results

Rusagro's agricultural business posted record financial performance in 2021. Due to favourable pricing conditions — market prices for agricultural commodity prices were trending upwards for the second consecutive year – and a bumper sugar beet harvest, revenues stood at RUB 41.9 bn, up 22% (up RUB 7.5 bn) above the previous year. The Company increased its EBITDA margin from 44% to 56% by selling a significant volume of products at 2020 production cost. As a result, adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) went up by 53% (up RUB 8.1 bn) to RUB 23.3 bn.

Revenues of Rusagro’s Agriculture Business RUB bn
Adjusted EBITDA of Rusagro’s Agriculture Business RUB bn
41.9  RUB bn
23.3  RUB bn
11 p.p.