Rosselkhozbank named the top 3 halal products for the development of exports to the Middle East
Among the most promising halal products for the development of Russian agro-industrial complex exports to the Middle East are chocolate, poultry meat and lamb. This is evidenced by the results of studies conducted by the Center for Industry Expertise of the Russian Agricultural Bank.
The volume of chocolate exports from Russia to the Middle East for 2022 is estimated at $24 million, poultry meat - $28 million, lamb - $16 million. The supply region includes the predominantly Muslim countries of North Africa, the Arabian Peninsula, Turkey and Iran. The top three importers are Saudi Arabia, Egypt and Türkiye. These countries account for more than half of food imports. The Middle East is the most active importer of cereals, meat, oilseeds and their derivatives. These product groups account for more than 70% of imports.
If we segment Russian exports to the Middle East region in terms of export volumes in 2022 and growth rates over the past 5 years, then the most massive segment includes positions already traditional for Russian exporters, including grain and vegetable oils. Growth rates here can be high (up to 30%), but for the most voluminous positions - wheat, sunflower oil do not exceed 10%.
There were eight positions in segments with high and very high growth rates (from 60% per year). The growth in exports of oilseeds and sugar indicates the continued saturation of the corresponding segments of the Russian market. The growth of chocolate and coffee and tea extracts indicates that Russia can be an exporter of agricultural products without producing the main raw materials for their manufacture. The fastest growth is demonstrated by the supplies of poultry and mutton meat.
As the RSHB Center for Industry Expertise noted, in most cases, export flows in the fastest growing categories were formed in the last five years. This applies to the meats mentioned, coffee and tea extracts, soybeans and sugar.