Reports state that Russian food shipments to India increase by over 100 percent

(MENAFN) Food exports from Russia to India more than doubled in the first 11 months of 2024, reaching over $2.3 billion, according to TASS, citing data from the Agroexport federal agency. The top exported agricultural products included sunflower oil, peas, soybean oil, dried chickpeas, and oats.

India also significantly increased its imports of Russian fertilizers, receiving 3.4 million metric tons in the first nine months of 2024, making up 28% of the country’s total fertilizer imports. The overall trade between Russia and India has surged in the past two years, reaching about $65 billion in 2023, mainly due to increased purchases of crude oil, coal, and fertilizers.

Despite the growth in trade, officials from both countries recognized the challenges of the trade imbalance, with India importing $61.1 billion worth of goods from Russia, while exports to Russia amounted to just $4.2 billion. Both nations aim to address this imbalance and continue diversifying their trade relations to ensure mutual benefits.

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