Trade turnover of agricultural products between Russia, Indonesia grows 41% in 2024 to $1.5 bln – Agroexport
MOSCOW. March 12 (Interfax) – The trade turnover of agricultural products between Russia and Indonesia stood at nearly $1.5 billion in 2024, up 41.4% compared to the previous year, the Agroexport federal center said.
Russia supplied Indonesia with approximately 1.4 million tonnes of agricultural goods last year, compared to 1 million tonnes in 2023. They were worth $407.6 million ($338.8 million in 2023).
The main commodity items in the value structure of Indonesian imports from Russia in 2024 were wheat (92.3%), coriander seeds (2.6%) and frozen fish (2.2%). “The 20.3% increase in Indonesia’s imports from Russia in value terms in 2024 was primarily driven by higher wheat purchases (+37%),” Agroexport said. At the same time, supplies of frozen fish fell 69.5%, millet 69.6%, and crustaceans 46.9%.
Indonesia exported 795,500 tonnes of agricultural products to Russia in 2024, up from 681,100 tonnes in 2023. The value of these deliveries increased from $715.1 million to $1.08 billion.
Within Indonesia’s exports, the largest shares by value were palm oil (49.7%), palm kernel oil and babassu oil (11.7%), coffee (9.7%), cocoa butter and cocoa fat (8.5%) and cocoa powder (4.4%). The 51.4% increase in the value of Indonesia’s exports to Russia in 2024 was mainly due to greater supplies of palm oil (+21%), coffee (up six-fold), as well as cocoa butter and cocoa fat (up 8.4-fold).
Russia imported 570,300 tonnes of palm oil (worth $538.2 million) from Indonesia last year, compared to 510,100 tonnes (worth $444.6 million) in 2023.