Trade between Russia and South Africa in January-October increased by almost 30% year-over-year to $530 million, Russian Deputy Agriculture Minister Sergey Levin said on Tuesday.
"Our trade is developing steadily and increased by almost 30% over the 10 months of this year, exceeding $530 million, while Russian exports to South Africa almost doubled. The basis of our supplies to South Africa is wheat," Levin said at a plenary session as part of a business mission of Russian companies exporting agricultural products to South Africa.
Being a leading wheat exporter on the world market, Russia is interested in expanding supplies to South Africa, Levin said, adding that Russian companies could also export other products to the African country.
South Africa's food supplies to Russia account for 72% of trade between the two countries, the deputy minister said. Russia's imports of agricultural products from South Africa increased by another 15% this year, mainly due to the supplies of citrus fruits, pears, apples and wine, Levin added.
The business mission was organized by the Agriculture Ministry together with the Russian Federal Center for the Development of Exports of Agricultural Products (Agroexport). South Africa imported a total of $7.5 billion worth of agricultural products in 2022, mostly wheat, according to Agroexport. Experts say that South Africa tripled imports of sunflower oil to $280 million in 2022, the center said.