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Russia expands grain exports to Indonesia

Русия разширява износа на зърно към Индонезия
Indonesian companies are interested in increasing the import of Russian cereals, the federal center for the development of the export of agricultural products - FSBI Agroexport - reported.

The respective intentions were expressed during the discussions of a business mission of Russian companies exporting agricultural products, which was held in Jakarta.

During the forum, PT Cerestar Indonesia head Nick Feng said his enterprises have been buying Russian wheat since 2007 and have always been satisfied with its high quality.

He expressed hope that this year the company will return to public procurement. We remind you that this year Russia resumed wheat supplies to Indonesia, interrupted in 2022. As a result, in the first nine months alone, the volume of exports already exceeded 500,000 tons.

Another company, Mayora Indah, which imports bread wheat to make pasta, confectionery and other products, also plans to start working with Russian suppliers this year, said purchasing manager Ferdinand Wirawan.

In turn, the chairman of the Board of Directors of the Union of Grain Exporters, Eduard Zernin, noted that on the one hand, Russia currently provides almost 25% of the world's wheat supply, and on the other hand, Indonesia is one of the largest grain importers of the global market.

According to him, the result of the business mission and the direct business dialogue between the two countries will lead to the return of Russian grain to the Indonesian market, a process that has already begun.

In 2021, 32,200 tons of agricultural products worth $31.4 million were imported from Russia to Indonesia. At the end of 2022, Russian agricultural exports to Indonesia increased by 56.2% in value terms compared to a year earlier.

At the same time, the Russian wheat export duty will be reduced to 5,297.7 rubles ($55.36) per ton for the period from October 25 to 31, 2023, from the current rate of 5,734.7 rubles ($59.91 ) per ton, according to the country's Ministry of Agriculture.

The export duty on barley will be zero from the current rate of 772.6 rubles ($8.07) per tonne, while the duty on maize will be reduced to 2,218.1 rubles ($23.17) per tonne from 3,271.8 rubles (34.19) per ton, according to the ministry's data.

The export duty rate for wheat was calculated at an indicative price of $252.6 per ton, for barley at $162.1 per ton, and for maize at $195.8 per ton.

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