The Russian embargo on Western produce presents Indian fruit and vegetable suppliers with a wealth of export opportunities, say shippers.
Russia has shown renewed interest in Indian produce since trade sanctions were imposed, and is looking for supplies of exotic fruits and vegetables, as well as potatoes, grapes and onions – all of which India can offer, Niraj Kumar, managing director of Russian import firm Vial Inter, told Fresh Produce India delegates last week.
“Mango, pomegranates, grapes, potatoes, onions and ginger have a good future in Russia,” he said. “There is also demand for oranges, lychees, papayas, coconuts, baby corn and exotic green vegetables.”
Russia is one of the largest grocery retail markets in Europe, with approximately US$282bn in sales, and modern retail formats account for 64 per cent of the market, Kumar said.
Despite Russia’s current fiscal problems, it is still a market worth exploring, he added, since Russia’s fruit market alone is worth US$5.4bn and food sales are the last to feel the impact of a weakening economy.
Indian produce export firm Sanvi International, sister company to IG International, began targeting India with its grapes last year with great success, according to the firm’s director of finance and operations, Tarun Arora.
“With the ban there is a big opportunity in India,” said Arora.
“Despite the long journey, despite currency devaluation, despite the economic complications, we still see opportunities in the Russian market,” he said. “This is our chance to make it big there.”
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