During the previous fiscal year, Russia’s agricultural exports to Africa rose by 19% to over $7 billion, according to a statement released by the state center Agroexport.
“Experts estimate that Russian agricultural exports to Africa in 2024 exceeded $7 billion, marking a 19% increase compared to 2023. Domestic food products were supplied to 45 countries on the continent,” the statement read.
Egypt stood as one of the major beneficiaries of the increased trade.
The North African country is said to be one of Russia’s major trade partners as it imports the highest volume of food products from the Kremlin compared to other African countries.
Egypt was able to acquire 21% more Russian agricultural exports by the end of 2024.
“Egypt is a leading importer of Russian wheat. The country also imports sunflower and soybean oil, legumes, flax seeds, molasses, yeast, and various other goods,” Agroexport reported.
As reported by Sputnik, other African countries that source a substantial amount of products from Russia, specifically in the period under review, include Algeria and Libya.
According to the Agroexport state center, grains, wheat, barley, and corn accounted for 87% of the overall value of Russian agricultural exports to Africa.
To add to that, African countries are significant consumers of Russian oils and fats, meat, and seafood. Dairy product shipments grew considerably in 2024.
Igor Pavensky, head of agricultural market analysis at “Rusagrotrans,” stated that Africa is expanding its proportion of Russian wheat exports.
“In the 2023/2024 season, 21.2 million tonnes of wheat were exported to African countries, accounting for 38% of Russia’s total wheat exports, setting a record high,” he emphasized.
Currently, Africa constitutes 50% of the Russian wheat market. This trend is likely to continue on an upward trajectory, given that Russia has been making a huge push into the African market, considering the continent as top of mind.