China sharply increased purchases of wheat and barley from Russia in January-April

Published 2024년 5월 22일

Tridge summary

Between January and April, China significantly increased its grain imports from Russia, particularly wheat, barley, buckwheat, millet, and oats, while reducing imports of corn, soybeans, and rapeseed. Russia is negotiating to export winter wheat and barley to China. Despite an 18% decrease in Russian grain exports in early May, shipments to countries like Bangladesh, Djibouti, Syria, Kenya, UAE, Saudi Arabia, and Iran rose, while exports to Egypt and Turkey fell. Additionally, grain prices have surged due to lower harvest forecasts in Russia caused by frosts.

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

Original content

In January-April this year, China significantly increased grain purchases from the Russian Federation compared to the same period in 2023. As reported in the materials of the State Customs Administration (SCU) of the People's Republic of China, wheat was imported for $25.2 million versus $1.5 million a year earlier, and barley for $70.5 million versus $8.9 million, respectively. At the same time, corn imports fell to $15.7 million from $58.1 million. Purchases of cereal crops have also increased. Thus, buckwheat and millet were imported for $26.9 million against $8.3 million in January-April 2023, oats for $18.1 million against $8.1 million. At the same time, China reduced imports of Russian soybeans to $135.2 million from $217.9 million in 4 months of last year. Purchases of rapeseed also decreased - to $43.9 million from $78.7 million, respectively. Currently, the Russian Federation can only supply spring wheat and barley to China. However, according to Russian experts, winter ...

Source: Oilworld