According to data released during Prime Minister Narendra Modi’s visit to Moscow, India has increased imports of Russian Grains and cereal products in Wirtschaftsjahr 2023/24 will increase by 22 times, writes Reuters.
Modi thanked Putin for supporting Indian farmers with stable supplies of fertilizers. At the beginning of the year, Russia supplied a third of India's fertilizer imports.
"Thanks to our friendship, we managed to solve the difficulties of Indian farmers. We covered all their needs for fertilizers. This is a special role of our friendship," Modhe Putin said at a meeting in the Kremlin.
Indian Foreign Minister Vinay Mohan Kwatra said on Tuesday that Russia and India have set a goal of increasing bilateral trade from the current level of 2030 billion Dollar to 100 billion dollars.
In a joint statement released after the talks, Russia and India said they wanted to further expand bilateral trade in agriculture and fertilizers and pledged to ease existing phytosanitary and veterinary barriers.
Data published by Rosselkhoznadzor show that Russia will produce up to 2023 million Tonnen exported grain and cereal products, 21% more than in the previous season.
India, with a 22-fold increase, was far ahead of Indonesia, with an eight-fold increase, and Tunisia, with a three-fold increase. Russia was the fourth-largest exporter of agricultural products to India in the first quarter of 2024, according to the Russian Ministry of Agriculture.
In a separate comment to Reuters, the agricultural regulator said the 22-fold increase was mainly due to pea exports and a tripling of lentil exports.
It should be recalled that at the end of 2023 it was announced that India would allow duty-free import of yellow Peas allowed until March 31, 2024.
Source: Ukragroconsult (Ukraine)
