Russia boosts grain exports to Indonesia 22% in 2024 - Russian deputy PM

JAKARTA. April 15 (Interfax) - Russia's grain exports to Indonesia grew 22% in volume terms in 2024, with further development of bilateral agricultural cooperation expected to include both grain and livestock products, Russian First Deputy Prime Minister Denis Manturov told journalists following his visit to Indonesia.

"Russia and Indonesia have significant potential to develop bilateral trade in agricultural products. Our country is the world's leading wheat exporter, while Indonesia is one of its largest global buyers. This creates a foundation for mutually beneficial cooperation. In 2024, Russia increased grain shipments to Indonesia 22% in volume terms," he said.

Work is underway to open the Indonesian market to Russian livestock producers, he said.

"In March this year, Indonesian representatives visited Russia to inspect beef production facilities. We currently await Indonesia's position following this visit," he said.

Earlier this week, Russian Deputy Agriculture Minister Maxim Borovoi and Russian Export Center head Veronika Nikishina discussed prospects for Russian beef producers entering the Indonesian market. Nikishina linked potential agricultural export growth to plans for signing a free trade agreement between the Eurasian Economic Union (EAEU) and Indonesia.

Final tariff negotiations are underway, and the agreement could potentially be signed by the end of the year, Manturov told journalists.

"Negotiations with Indonesia are in their final stage. We're currently aligning the tariff component, particularly for sensitive goods. We expect to conclude the agreement by the end of the year," he said.

Agricultural exports will become a key driver of Russia-Indonesia trade growth in 2025, Manturov said. Bilateral trade grew 4% to $4.3 billion in 2024. "This year we expect continued positive dynamics, both in volume growth and further trade diversification," he said.

"Beyond energy resources, we see agricultural and food products, chemicals (particularly fertilizers), and ferrous and non-ferrous metals as key Russian export drivers to Indonesia in the coming years. Given domestic manufacturers' capabilities, we also see potential for increased pharmaceutical, medical equipment, and oil and gas machinery exports to Indonesia," he said.