18.1 C
Friday, December 1, 2023

Russian food exports to DR Congo set to rebound dramatically – report

Deliveries to the Central African nation mostly comprise wheat, corn, meat, and canned food

Russian food exports to the Democratic Republic of the Congo (DRC) could reach $150 million a year, according to a report published by the Russian Ministry of Agriculture’s Agroexport on Tuesday.

The report highlighted that the main export items are wheat, corn, meat, and canned food, as well as flour, yeast, beer, malt, and other agricultural products.

Agroexport data showed that trade turnover between Russia and the DRC amounted to $101.7 million in 2021, marking a 91.7% increase on the previous year. Russian exports to the African nation soared by 91.6% in annual terms, while imports from the DRC more than doubled to $111,700. Russia mainly exported wheat ($96.2 million), poultry ($4.3 million), and pork ($1.3 million). The DRC’s main export to Russia is coffee, according to the report.


However, trade between the two countries was affected last year by Western sanctions, plunging 97% as a result of a halt on Russian wheat exports.  

READ MORE: African country may use Russian payment system – envoy

Russia and the DRC have been working to facilitate trade and economic cooperation. Earlier this year, the Congolese ambassador to Moscow, Ivan Vangu Ngimbi, told RIA Novosti that the DRC could start using the Mir payment system, Russia’s alternative to Visa and Mastercard, to facilitate transactions with Russian partners. The move was being considered due to difficulties in settlements with Moscow amid sanctions, the envoy clarified.

October 25, 2023 at 05:49PM


Most Popular Articles