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MIL OSI Translation. Region: Russian Federation –

07/12/2021

The 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 million by 2030. This was announced by the head of “Agroexport” Dmitry Krasnov at the online business mission of Russian exporters of agricultural products to Singapore.

“We estimate the potential for increasing Russian exports of agricultural products to Singapore by 2030 at more than $ 100 million. First of all, it can be realized 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. As noted in the materials of “Agroexport”, in 2020, 2.7 thousand tons of products worth $ 4.3 million were imported from Russia to Singapore. Singapore accounted for less than 0.1% of exports of Russian agricultural products. The main commodity items in value terms in the structure of Russian agricultural products exports 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 decrease in the supply of cigars and cigarettes, chocolate confectionery and tea. At the same time, Russian exports to Singapore of sunflower oil, coffee extracts and essences, and vodka increased. In addition, supplies of coriander and flax seeds have begun. At the end of 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 (by $ 1.5 million). During this period, the Russian export of vodka decreased, but the export of extracts and essences of coffee and products from them increased.

A source: TASS

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EDITOR’S NOTE: This article is a translation. Apologies should the grammar and / or sentence structure not be perfect.

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