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All news / Exports of agricultural products from Russia to Singapore may grow to $100 mln by 2030

  • 15 Jul 2021, 11:10

 Federal Center Agroexport under the Ministry of Agriculture of the Russian Federation estimates the potential for exporting agricultural products from Russia to Singapore at $100 mln by 2030, Head of Agroexport Dmitry Krasnov said on Monday.Exports of agricultural products from Russia to Singapore may grow to $100 mln by 2030

"We estimate the potential for increasing Russian exports of agricultural products to Singapore by 2030 at more than $100 mln. First of all, it can be implemented through the supply of fish and crustaceans, pork, poultry meat, chocolate confectionery, flour confectionery," he said.

According to him, a significant part of the listed items is not currently imported into Singapore from Russia. According to the materials of Agroexport, in 2020, 2,700 tonnes of products worth $4.3 mln were supplied from Russia to Singapore. The share of Singapore accounted for less than 0.1% of exports of Russian agricultural products. The main commodity items in value terms in the structure of exports of Russian agro-industrial complex products to Singapore in 2020 were chocolate confectionery (30%), sunflower oil (22.9%), cigars and cigarettes (11.9%), coriander seeds (9.8%), vodka (5%).

Experts explained that the decrease in Russian exports to Singapore in value terms by 18.1% was mainly due to a decline in the supply of cigars and cigarettes, chocolate confectionery, and tea. At the same time, Russian exports of sunflower oil to Singapore, coffee extracts and essences, and vodka increased. In addition, supplies of coriander and flax seeds have begun. In January-June 2021, the volume of Russian exports of agricultural products to Singapore compared to the same period last year decreased by 49.8% in value terms, or by $1.5 mln. During this period, Russian exports of vodka decreased, but the export of extracts and essences of coffee and products from them increased.

Source: tass.com