Chinese demand boosts Russian agricultural exports to record highs

China-Russia Information Network Moscow compiled and issued: The Russian "Izvestia" reported on March 11 that the 2020 Russian foodmate.
net/tag_1357.
html" class="zdbq" title="Agricultural related food information" target="_blank">agricultural product foodmate.
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html" class="zdbq" title="Export-related food information" target="_blank">export report released by the Russian foodmate.
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html" class="zdbq" title="Ministry of Agriculture related food information" target="_blank">Ministry of Agriculture showed that despite the impact of the new crown foodmate.
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It reached a record high, earning US$30.
7 billion in foreign exchange, an increase of US$5 billion over 2019.
This is also the first time that Russia has become a net agricultural exporter since the collapse of the Soviet Union.
Russia is the main buyer of agricultural products to China, Turkey and Kazakhstan, as China's largest foodmate.
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html" class="zdbq" title="Import related food information" target="_blank">import supplier imported 4.
8 million tons of agricultural products from Russia, worth 4.
02 billion US dollars, accounting for 13% of the total revenue of the Russian exports of agricultural products.
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　　The "Russia Today" website reported on March 10 that among the exports of Russian agricultural products in 2020, grain exports will increase by a quarter to 49 million tons, with an income of 10 billion U.
S.
dollars.
The main export products are wheat, barley and corn; the export income of oil products Approximately US$5 billion; exports of meat products increased by 53% to 525 million tons, with revenue of US$887 million.
In addition, Russia’s exports of sugar products earned US$4.
5 billion in foreign exchange, mainly benefiting from Chinese demand.

 

　　Regarding the record high of Russian agricultural exports last year, Hudalov, head of the ACRA sustainable development risk assessment team of Russia, believes that the links established between Russia and Chinese partners have played an important role.
Russia’s Finam Group analyst Kolenev said that the Sino-US trade war has also boosted Russia’s agricultural exports to China.
The export potential of Russian agricultural products to China is estimated to reach tens of billions of dollars.
The Russian WMT Consulting Company predicts that Russian grain exports will increase by 10%-15% in 2021.
However, Hudalov believes that after the outbreak of the epidemic, world agriculture has recovered, and the fall in world food prices may limit the substantial increase in the value of Russian agricultural exports.