The markets of the countries of the East, including India, are of strategic importance for Russian producers of the agro-industrial complex. Eduard Zernin, Chairman of the Board of the Russian Union of Grain Exporters, announced this on Wednesday on the sidelines of the Business Mission of Russian Food Exporters taking place in New Delhi.
“The largest consumers of Russian grain are in the East and Africa, we have been present in this market for a long time, it is of a strategic nature for us,” Zernin said.
He added that Russian companies are currently seeking to consolidate their positions and expand their offerings. “In our case, it is more about securing strategic positions and expanding our offer, primarily at the expense of leguminous crops. We are ready for mutual trade,” the source said.
Zernin also noted that Russian agricultural producers are analyzing the possibilities of creating joint ventures with Indian partners, but so far this has been hindered by a number of obstacles. “It makes sense to agree on joint ventures only as the existing barriers are removed, first of all, we are talking about the duty on wheat imports. In addition, a prerequisite for the implementation of such joint projects should be the access of products to the domestic Indian market; without it, the economic meaning of investments drops sharply,” Zernin emphasized.
India is one of the world leaders in the production of milk and meat, cereals and legumes. At the same time, the country is the world’s largest importer of vegetable oils and is among the top buyers of beans and lentils. In 2022, the volume of agricultural imports of the republic amounted to a record $34.1 billion. Russia ranked eighth among suppliers of agricultural products.
Full version on the website The Union of Grain Exporters considers the eastern markets to be strategically important for the agro-industrial complex of the Russian Federation
