China is the main consumer and buyer of Russian agricultural products

Published 2020년 7월 27일

Tridge summary

Russian agricultural exports have seen a significant increase in the first half of 2020, with a 17% rise in value compared to the same period in 2019, amounting to $10.5 billion. This growth is primarily driven by new export categories such as oilseeds, sugar, and meat, which have doubled or quadrupled in volume. The export of oilseeds, particularly sunflower seeds and soybeans, has seen a significant increase, with sugar and meat also showing strong growth. The export of cereals, oil, fat, fish, and other products has also increased in value, while the volume of exports of fish, crustaceans, and shellfish has decreased. China has become the largest buyer of Russian agricultural products in the first half of 2020, followed by Turkey and South Korea. This growth in agricultural exports is expected to continue, with a potential increase of more than 10% by the end of the year.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

New drivers of Russian agricultural exports - oilseeds, sugar and meat, according to the RSHB analysts According to the operative data of the Center for Industry Expertise of the Russian Agricultural Bank (CSE), export volumes are ahead of the planned indicators. In the first half of the year, the volume of exports of agricultural products (excluding the EAEU countries) amounted to $ 10.5 billion, having increased by 17% in value terms compared to the same period in 2019. Shipments to the EAEU countries confirm the trend: in the first 4 months of 2020, their volumes increased by 10%, to $ 1.2 billion.CES believes that by the end of the year, the export of agricultural products abroad may increase by more than 10% to $ 27-28 billion. The Ministry of Agriculture of the Russian Federation forecasts exports in 2020 at the level of last year, in the amount of $ 25 billion. “We expect that the main growth will be provided by both the primary export categories, grains and oil and fat, ...

Source: Agroxxi