25.11.2024, 21:22
In 10 months, Russia increased exports of agricultural products to Saudi Arabia by 13% to more than $1 billion
Source: OREANDA-NEWS
OREANDA-NEWS In 10 months of this year, the Russian Federation increased exports of agricultural products to Saudi Arabia by 13%.
"This year, Russian exports to Saudi Arabia are showing good dynamics. In the 10 months of 2024, it grew by 13%, exceeding $1 billion. At the same time, the supply of barley has more than doubled, poultry meat - by 63%, beef - by 65%," Dmitry Krasnov, head of the Agroexport center, said at a plenary session as part of the business mission of Russian exporters to Saudi Arabia on Monday.
According to him, the export potential by 2030 is estimated at $1.4 billion. The largest increase in supplies can be provided by cereals and legumes, meat, and fat-and-oil products.
According to Krasnov, grain supplies to Saudi Arabia have been growing in recent years. In the last agricultural year (July 2023-June 2024), it reached almost 4 million tons worth more than $800 million. Wheat (52.1%) and barley (46.8%) accounted for the largest volume of supplies in value terms.
Along with grain products, the Russian Federation can also offer a large volume of vegetable oils.
As Krasnov noted, Saudi Arabia is an important market for Russian meat exporters. "In five years, Russian meat exports to the kingdom have almost quadrupled in physical terms and reached 50 thousand tons in 2023. The main volume consists of chicken meat - 73.2% and beef - 26.5%. But we see good potential for the development of lamb supplies," said the head of the center.
At the same time, dairy exports to Saudi Arabia are just beginning to develop. The first large deliveries were made last year, when 180 tons of milk powder and whey powder were delivered for more than $ 470 thousand, Krasnov said.
The Russian Federation has also been supplying confectionery products to Saudi Arabia for several years. So, over the past five years, the basis of Russian confectionery exports to the kingdom has been chocolate (60%) and flour (35%) confectionery. The peak of supplies occurred in 2020-2021, when exports reached $34-35 million. Then they decreased and this year the recovery began. At the end of 10 months, exports doubled in value terms compared to the same period last year.
Krasnov also said that in 2023, the Russian Federation entered the market of soft drinks in Saudi Arabia, supplying them for $ 77 thousand. Flavored drinks with added sugar form the basis of exports.
Shrimp, dates and drinks are supplied from Saudi Arabia to the Russian Federation.
According to Agroexport, from 2019 to 2023, the turnover of agricultural products between the two countries increased threefold, exceeding $1 billion. At the same time, the average annual growth rate of Russian exports was 30%.
"This year, Russian exports to Saudi Arabia are showing good dynamics. In the 10 months of 2024, it grew by 13%, exceeding $1 billion. At the same time, the supply of barley has more than doubled, poultry meat - by 63%, beef - by 65%," Dmitry Krasnov, head of the Agroexport center, said at a plenary session as part of the business mission of Russian exporters to Saudi Arabia on Monday.
According to him, the export potential by 2030 is estimated at $1.4 billion. The largest increase in supplies can be provided by cereals and legumes, meat, and fat-and-oil products.
According to Krasnov, grain supplies to Saudi Arabia have been growing in recent years. In the last agricultural year (July 2023-June 2024), it reached almost 4 million tons worth more than $800 million. Wheat (52.1%) and barley (46.8%) accounted for the largest volume of supplies in value terms.
Along with grain products, the Russian Federation can also offer a large volume of vegetable oils.
As Krasnov noted, Saudi Arabia is an important market for Russian meat exporters. "In five years, Russian meat exports to the kingdom have almost quadrupled in physical terms and reached 50 thousand tons in 2023. The main volume consists of chicken meat - 73.2% and beef - 26.5%. But we see good potential for the development of lamb supplies," said the head of the center.
At the same time, dairy exports to Saudi Arabia are just beginning to develop. The first large deliveries were made last year, when 180 tons of milk powder and whey powder were delivered for more than $ 470 thousand, Krasnov said.
The Russian Federation has also been supplying confectionery products to Saudi Arabia for several years. So, over the past five years, the basis of Russian confectionery exports to the kingdom has been chocolate (60%) and flour (35%) confectionery. The peak of supplies occurred in 2020-2021, when exports reached $34-35 million. Then they decreased and this year the recovery began. At the end of 10 months, exports doubled in value terms compared to the same period last year.
Krasnov also said that in 2023, the Russian Federation entered the market of soft drinks in Saudi Arabia, supplying them for $ 77 thousand. Flavored drinks with added sugar form the basis of exports.
Shrimp, dates and drinks are supplied from Saudi Arabia to the Russian Federation.
According to Agroexport, from 2019 to 2023, the turnover of agricultural products between the two countries increased threefold, exceeding $1 billion. At the same time, the average annual growth rate of Russian exports was 30%.
Комментарии