Russia will double its grain exports to 40 million tons a year by 2020, President Vladimir Putin said at the APEC summit in Vladivostok on Friday.

“We project that our country will be producing 120 million-125 million tons of grain a year by 2020, which will increase our export capacity to 30 million-35 million tons, and even up to 40 million tons,” Putin said.

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World Grain Market in 2010-2011

Russia’s grain export potential is currently 15-20 million tons, he said.

“Russia makes and will continue making a significant contribution to stable deliveries of food to markets in the Asia-Pacific region,” he said.

Along with exporting food, Russia is interested in stimulating foreign investment in Russia’s agricultural sector and Russian investment in agricultural sectors abroad, as well as application of the latest agricultural technologies, to include rational use of the Pacific Ocean’s bio-resources, Putin said.