India hopes agricultural products turnover with Russia will grow - source

NEW DELHI, July 3. /TASS/. Indian authorities hope that they will be able to negotiate an increase in agricultural products turnover after the dramatic decline of Russian imports caused by introduction of restrictions by the Indian side, a source close to the Indian Ministry of Agriculture told TASS on Wednesday on conditions of anonymity. "Solution of this issue [the decline in agricultural supplies - TASS] is the prerogative of governments of two countries. We hope governments of India and Russia will manage to agree upon the increase in deliveries of agricultural produce from India to Russia and from Russia to India on mutually acceptable conditions. As far as I am aware, Russia approached us with a request to open the market for new goods, like, for example, flax fiber, nuts, etc. However, the decision has not yet been taken on this issue," the source said. India introduced tariff and non-tariff restrictions on import of agricultural products in 2017 within the framework of the program for twofold increase of agricultural products output in 2017, the source noted. As a result, procurements of agricultural products in Russia plummeted from $360 mln in 2017 to $53 mln in 2018. "Tough measures largely covered grains and pulses, in particular, such goods as wheat, peas, and others, delivered to us from Russia. These measures also affected imports of the Russian sunflower oil, chickpeas, and lentils. Nevertheless, let me stress that it pertains not merely to Russia but to all foreign states," he said. The decline of Russian agricultural exports is dramatic, the source said. "Nevertheless, a range of goods continues to be supplied from Russia, for example, flax seeds," he added. Read more