IMPORT SUBSTITUTION IN THE FOOD INDUSTRY OF RUSSIA

Abstract

An analysis of the intermediate results of the import substitution policy in the food industry shows that the food embargo policy appeared to be the most important factor, which contributed to the achievement of the intended goals. However, besides some positive results, the imposing of food embargo also had negative consequences, including the growth of consumer prices. Today, one can state that the dependence on imports for many commodity groups has decreased noticeably, but for a number of products it still remains high. The pace of import substitution is constrained with a number of problems, including low investment attractiveness of the food industry, low competitiveness of the goods produced and with staff deficit in the regions. The solution of these problems is important not only for the development of the food industry inRussiaand in the regions, but also for the economic security provision of the Russian state.