Russia plans big dairy export push Plans exports to North Africa, Middle East and Asia17 May 2024 17 May 2024 3 minute read 3 minute read By: By: Global Ag Media EuropeRussia plans to grow its presence in the global dairy products market by increasing supplies by 15-20% annually with a big push into Arab countries - especially Algeria - and southeast Asia, the head of industry lobby group Soyuzmoloko told Reuters. "Annually, the Russian dairy industry can show export growth rates of about 15-20%, but it is not excluded that the growth can go exponentially under the right conditions," Artem Belov said. Russia's annual dairy exports are now worth $400 million, or about 1% of a global market estimated at more than $40 billion, he said. The new target markets are in countries that Russia is courting heavily as it pivots its trade away from Europe. Russia does not make significant dairy exports to Western countries and dairy products are not subject to sanctions imposed by those countries.

Source: The North Africa Journal May 17, 2024 02:30 UTC