Yug Rusi Group of Companies is planning to supply vegetable protein-based products to Singapore in the near future, The DairyNews writes.

According to Sergey Kislov, the group's founder, the company has been supplying its products to Singapore for a decade, which has become a "window to Southeast Asia" for the Russian producer.

"For example, we started our work in Indonesia with Singapore, and many of our projects in Vietnam also take off from Singapore. In the near term, Yug Rusi plans to enter the Singapore market with vegetable protein-based products," he explained.

Today Russia supplies confectionery, sunflower oil and other products to Singapore. Mutual trade between the countries has increased by nearly 30% in the past decade, according to the publication.

Second Minister of Industry and Trade of Singapore Tan Si Leng said that Singaporean business, in addition to increased purchases of products in Russia, is interested in joint investment in agricultural production.

Today, according to Dmitry Krasnov, head of Agroexport, the Russian Federation ranks 56th in the overall structure of Singapore's agro-industrial imports. This, according to Krasnov, does not match the country's capabilities in terms of securing food supplies.

"We estimate the potential to increase Russian agribusiness exports to Singapore by 2030 at more than $100 million," he added.

Made in Russia // Made in Russia

Author: Ksenia Gustova