Prospects for the Development of Advanced Grain Processing in Russia
Purpose: The article is devoted to the identifying and evaluating promising areas of advanced grain and legumes processing development as a strategically important area for import substitution and food security of the agribusiness complex. Methodology/Approach: To achieve this goal, it is necessary to solve the following tasks: the analysis of advanced grain and legumes processing products; the evaluation of the current Russian market for advanced grain processing products; the identification of promising products and directions of the advanced grain processing industry development. Findings: According to the analysis in this article, this industry is in its infancy, despite the fact that in most developed countries of the world, advanced grain processing is widely elaborated. The key reasons for the Russia's lag there involve the lack of domestic techniques and highly qualified specialists in this field. Processing grain into flour, starches, glucose syrups, biofuels and organic acids makes possible manufacturing plastic and other products. To realize the Russia's potential in manufacturing high-value-added agricultural products, it is necessary to provide state support for investment projects for wheat deep processing through preferential lending and taxation, and co-financing of projects. The strategic goal of the Russian agribusiness in the medium and long term should be changing the structure of manufacturing and export in order to export finished products, but not raw materials. Practical implications: The results of this research could be introduced in the process of strategic planning of the agribusiness development and import substitution policy in Russia. Originality/Value: The key contribution of this study lies in the findings of the advanced grain processing industries’ analysis in Russia with the regional aspects taken into account.