Russian trade in agribusiness products with Vietnam grows 6.1% to $900 mln in 2021 - Agroexport

MOSCOW. Aug 12 (Interfax) - Trade in agribusiness products between Russia and Vietnam grew by 6.1% to $928.4 million in 2021, the Agriculture Ministry's Agroexport Center said in a report prepared for a business mission of Russian exporters to Vietnam that began on Thursday.

Russian agribusiness exports to Vietnam fell 14.6% to $342.2 million (360,100 tonnes), while imports from Vietnam rose by 23.6% to $586.2 million (245,600). Russian exports to Vietnam amounted to 36.9% of agribusiness trade between the two countries, and this trade accounted for 1.3% of Russia's total trade in agribusiness products.

Pork and edible by-products made up 51.3% of Russian agribusiness exports to Vietnam by value, other food products accounted for 10.9%, baby food made from flour, cereals, starch and milk made up 8.3%, and corn and wheat accounted for 8.1% and 6.1%, respectively.

The 14.6% decrease in exports to Vietnam by value was due primarily to exports falling by $84.4 million for wheat, $61.8 million for corn, $4.2 million for frozen fish and $3.8 million for sunflower oil. Meanwhile, exports rose by $44.8 million for pork and edible by-products, $25.6 million for other food products accounted, $11.3 million for baby food made from flour, cereals, starch and milk, and $5 million for molasses.

Coffee made up 27.8% of agribusiness imports from Vietnam by value, fish fillet accounted for 12.7%, cashews for 9.4%, coffee extracts and essences and their products 7.1%, and fruit, nuts and other edible parts of plants, prepared or preserved, accounted for 6.3%.

Russia imported 23.6% more coffee from Vietnam, 74.8% more fish fillet, 21.2% more coffee, 47% more cashews and 73.3% more fruit, nuts and other edible parts of plants, prepared or preserved, but 10.4% less coffee extracts and essences and their products, 64.5% less rice, 11% less tea, and 7.6% less dried, salted, smoked and pickled fish.

Russia accounted for 2.4% of Vietnam's total imports of agribusiness products.

More than 20 Russian companies and more than 40 Vietnamese importers, distributors, processes and representatives of logistics companies are taking part in the business mission in Ho Chi Minh City, Agroexport said.