Potential for Russian agricultural exports to Saudi Arabia estimated at $1.4 bln by 2030 - Agroexport

MOSCOW. June 30 (Interfax) - Opportunities to expand Russian agricultural exports to Saudi Arabia remain underutilized, with export potential to the country estimated at $1.4 billion by 2030, the head of the Agroexport federal center Ilya Ilyushin said during a plenary session at the Russian-Saudi agricultural forum in Moscow on Monday.

"The greatest export growth potential lies in grains and legumes, meat and oil and fat products. Realizing this potential requires developing sustainable business ties between the two countries," Ilyushin said.

Russia exported $1.2 billion worth of agricultural products to Saudi Arabia in 2024, up 24% year-on-year.

Saudi Arabia primarily imports grains, sunflower oil, poultry and beef from Russia. Russia's imports from the kingdom consist mainly of shrimp, dates and beverages. Bilateral trade reached $1.3 billion in 2024.

Last year, Russian exports of barley and poultry doubled, beef shipments rose 47%, processed poultry product exports increased 52% and chocolate confectionery exports grew 1.7-fold. However, wheat exports declined 10%, sunflower oil fell 20% and chickpeas dropped 25%.

Russia has significant potential to expand grain and legume exports, Ilyushin said. In the 2024-2025 agricultural year (ending June 30, 2025), Russia supplied nearly 3.3 million tonnes worth over $700 million to the kingdom. Wheat accounted for 61% of the exports' value, barley for 38%.

Saudi Arabia represents an important market for Russian meat exporters, Ilyushin said. Over five years, Russian meat exports to the country grew six-fold, reaching 83,000 tonnes in 2024. Chicken comprised 80% of shipments, beef 20%. "We see good potential to develop mutton exports," he said.

"This year continues to show steady growth in meat exports. January-May poultry shipments doubled, beef rose 14% and processed poultry products increased 1.5-fold," Ilyushin said.

He also identified untapped potential in dairy products, fish and seafood, confectionery and non-alcoholic beverages.