Last updateMon, 23 May 2016 12am

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Many companies from the European Union (EU) have suffered following the introduction of sanctions that prohibited produce from entering Russia. However, more and more companies have shown an interest in opening up business on Russian territory.

Kuban is planning to develop a public- private partnership while focusing on the development of seed production in the region. This is expected to allow the Krasnodar Krai to decrease its dependence on imported seed and planting materials.

The Krasnodar region is planning to be able to harvest as much as 100 thousand tonnes of greenhouse vegetables by 2018 due to current initiatives in this sector, such as with the possibile commissioning of cool storage facilities and product silos. The region expects this year's harvest to amount to seventy thousand tonnes of vegetables.

Sergey Galitsky, Magnit's founder and CEO, met with students at Kuban State University and announced the retailer's intention to develop in-house production and processing of goods.

Russia's province of Kuban in the Krasnodar Krai, located northeast of the Black Sea, is making plans to increase the region's production of canned foods to reach a goal of 970 million jars in 2015.

Governor of the Kuban region Alexander Tkachev said that the current conditions under the sanctions are literally pushing for the need to reach a level of import substitution as well as develop agricultural production, including the production of greenhouse vegetables.

In the past, large amounts of seeds have been imported into Russia from other countries. However, Russia's current ban on imports of food products against a number of countries is encouraging Kuban's authorities to revive seed production in the region.

The project "Tryufelinaya Valley" (Truffle Valley), under the framework of which will be the cultivation, freezing and canning of the mushrooms, will be presented by Novorossisk specialists to potential investors at the upcoming International Forum "Sochi-2014".

The Governor of Russia's Krasnodar Krai, Alexander Tkachev, said that in the next few years the area of greenhouse complexes in the region should be increased five-fold to as much as 500 hectares (or about 1,236 acres).

Governor of Russia's Krasnodar Krai, Alexander Tkachev, announced earlier this week that the Kuban Region could step up to provide for the country's fruit and berry market in a large way – by providing for nearly 50 percent of the nation's demand. The governor added that in order to successfully harvest amount necessary to reach this goal, there needs to be a rapid development of the region's infrastructure for production, lending and logistical supplies.

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