The Russian authorities are launching a "banana scheme" to address the trade imbalance with India, which has increased its oil purchases from Russia 11 times since the start of the invasion of Ukraine, but has not started the flow of goods to the Russian market.
Source. This was reported by moscowtimes.eu.
In January, the first batch of bananas left India for Russia, the press service of the Rosselkhoznadzor reported on Tuesday. The agency stressed that the decision to open the Russian market to Indian bananas was made after long negotiations, and that the volume of supplies will increase.
"The next shipment is scheduled for the end of February," the regulator said, adding that local farmers are also interested in exporting mangoes, pineapples, papayas and guavas.
India is the world's largest producer of bananas: last year, according to FAO, the country grew 33 million tonnes of the fruit. russia is the world's top banana importer, accounting for a fifth of all purchases worldwide.
Bananas are supposed to patch the "hole" in the Russian-Indian trade balance and solve the problem of rupees stuck in India, which, according to Reuters, can reach $39 billion. However, it turned out to be impossible to withdraw the rupee from India: local currency regulations prohibit it.
Background. Indian bananas will replace Ecuadorian bananas on the Russian market: in early February, Rosselkhoznadzor banned their imports after the Ecuadorian government announced the transfer of Soviet weapons to the United States for further shipment to Ukraine.