Russia’s agroholding firm, Yug Rusi is all set to create a joint venture for the production of vegetable protein products in Singapore, according to its Founder/Owner Sergei Kislov during his recent online business mission to the country.
Sergei said, “We are working with the Singapore Polytechnic Food Innovation and Resource Center; we already have some groundwork. We are ready to create a joint venture to launch good products using vegetable protein components on the Singaporean market.”
Sergei said that by 2024, the global vegetable protein market will be worth US$35 billion and could top US$100 billion by 2030, and given that many consumers are paying serious attention to healthy living, this niche segment is going to grow.
Yug Rusi supplied its products to more than 60 countries and has been working with Singapore for more than a decade as a window to ASEAN market. Through Singapore, it entered the Indonesian market, from which it has begun implementing many projects in Vietnam.
Yug Rusi is one of Russia’s biggest vegetable oil producers. The group includes around 20 agricultural enterprises with farmland totaling nearly 200,000 hectares, 27 grain elevators, 9 oil processing plants, a river terminal, and enterprises developing pedigree livestock farming, purchase, storage, and processing of grain, production of compound feed and corrugated packaging amongst others.