In the first quarter, Russian agricultural exports to China exceeded $ 1 billion

Published 2021년 4월 22일

Tridge summary

In the first quarter of 2021, Russia saw a 57% increase in agricultural exports to China, totaling 1.8 million tons and valued at $1.09 billion, despite being in second place behind Turkey as China's largest food buyers. This growth is largely due to a significant rise in soybean exports and sunflower oil, while crustacean exports experienced a 75% increase to 3,000 tons. However, the pandemic has impacted the export of frozen fish. China, with its growing agricultural market demands, imported $162 billion worth of foodstuffs in 2020, up 16% from 2019, leading to potential agricultural export opportunities for Russia worth $7-7.6 billion by 2030.

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

Original content

According to the Federal Customs Service, in January-March 2021, Russia exported 1.8 million tons of agricultural products to China, which is 57% higher than the same period last year. The value of the supply increased by 9.5% to $ 1.09 billion. Despite the growth, this year the PRC still ranks second among the largest buyers of Russian food, behind Turkey. The structure of export sales to China at the beginning of the year underwent significant changes. So, the export of soybeans showed a multiple growth in comparison with the last year. In second place in the structure of shipments to China is sunflower oil. Exports of crustaceans to China, compared to the first quarter of 2020, increased by 75% to 3 thousand tons, and export earnings - by 2.2 times to $ 97 million. this year it is still in 5th place: its deliveries fell by 7 times compared to the same period in 2020 to 46 thousand tons in the amount of 64 million dollars. The growth in the export of crustaceans is due to the ...

Source: Fishnet.ru