TRENDS IN THE DEVELOPMENT OF THE FOOD SECTOR OF THE RUSSIAN REGIONS' ECONOMY IN THE CONTEXT OF EXTERNAL CHALLENGES

Abstract

This article considers the trends in the development of the food industry in the Russian Federation and the need to improve food import substitution processes. We describe the challenges, consider their impact on the development of the domestic food industry and future opportunities to strengthen the Russian agro-food complex. The main tools for developing the economy of the Russian Federation through the revitalization of the food industry have been identified. These include the stimulation of innovation that needs to be developed for import substitution purposes; Infrastructure modernization. Improved marketing strategies that can stimulate consumption of domestic products as part of import substitution. The conclusions formulated by the team of authors reflect the short-term retrospective dynamics of the development of the domestic production complex in the focus of achieving the priorities of the import substitution policy. The market conditions for the development of the Russian food sector in the medium term will be characterized by the presence of significant sanction pressure, which requires the development and adaptation of strategic tools that ensure stabilization of the progressive development trajectory.