Add to favorite
Subscribe to our Newsletters Subscribe to our Newsletters Get Daily Updates RSS

Hemp Production in Russia Would Have $ 3.4 bln Turnover a Year
29.09.2011 11:54
Hemp Production in Russia Would Have $ 3.4 bln Turnover a Year

The revival of hemp growing traditions in Russia would have 100 bln Rubles (about $ 3.4 bln) annual turnover and create 1 mln jobs.

The Federal Drug Control Service of the Russian Federation has suggested growing narcotic-free hemp in production quantities. The production turnover may reach about $ 3.4 bln a year.

Narcotic-free hemp can be used as biofuel source, as means of land rehabilitation, in cellulose, smokeless powder and hemp production, in medical and chemical industries and others, said  the Director of the Federal Drug Control Service of the Russian Federation Victor Ivanov.

“The sum of investments may reach about 10 bln Rubles (about $330 mln). These means could be found in the budget, without cutting up on other expenses. This may become one of the major innovation projects, at the moment there are more than 25 of them,” added the Director.  

The ban on growing and selling hemp in Russia was introduced in 1960. Now Russia is one of the largest importers of hemp fibers, what makes up about some million tons a year.

Author: Irina Fomina

Tags: Russian business Russian production    

Next Previous

You might also find interesting:

Small Business Returned to Stagnation after a Period of Activity
The Ministry of Economy has Developed an Analogue of the "Golden Passports"
The Number of Unqualified Investors has Risen Sharply in Russia
Catering Companies Change their Business due to the Pandemic
Netology has Launched a Free Business Course with Entrepreneurs from Silicon Valley

comments powered by Disqus

Comment on our site

RSS   twitter   facebook   submit

Bookmark and Share

Monuments of Architecture  Organ Music  Russian football  University Games  Mercedes-Benz Fashion Week Russia  travel to Russia  Queen  Three Crows   St. Petersburg  Russian business  Transportation  Birchbark Handicrafts  Petropavlovsk-Kamchatsky  Russian legal system  Russian tourism  Aeroexpress  Mariinsky theatre  Winzavod  Kirov  Christmas Trees  Exhibitions in Moscow  Siberia  Kerzhakov   Travel to Finland  Omsk  Sapsan  Russian regions  Novosibirsk  The Day of Meteorite  Russian aviation  medicine  Festivals in Moscow  nuclear reactors in Russia  online stores in Russia  accommodation in Russia  Mercedes-Benz Fashion Week   terrorism  Moscow  Russian Cinema  International space station  Russian-Poland  Elks  Izrazets  Russia  Relics  Chelyabinsk meteorite  Russian Nature  Zenit St. Petersburg  Mikhail Yelizarov  Tula Region 

Travel Blogs
Top Traveling Sites