Prospects for Russian wheat weighed in Shanghai

Published 2023년 5월 26일

Tridge summary

Russian Prime Minister Mikhail Mishustin visited Shanghai to discuss business cooperation with China, with a focus on agricultural trade which surged by 42% to over $7 billion in 2022. The Russian government, represented by the Pokrovsky Concern, is looking to increase grain exports to China, currently facing phytosanitary restrictions, by estimating the potential for annual exports at 5 million tons. The Pokrovsky Concern, one of the country's largest agricultural producers, is ready to organize grain deliveries from southern Russian ports to Chinese seaports using Panamax class vessels and expects to resolve the issue allowing Russian wheat through intergovernmental negotiations.

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

Original content

On May 23, an official delegation of the Russian Federation headed by Prime Minister Mikhail Mishustin flew to Shanghai to participate in the Russian-Chinese business forum. Representatives of state and supervisory authorities, as well as the largest entrepreneurs of both countries discussed the prospects for cooperation and joint initiatives worth tens of billions in various business areas. Group of companies "Concern" Pokrovsky "as part of the government delegation represented the grain sector In his speech at the plenary session of the forum, Mikhail Mishustin noted that in 2022, bilateral trade in agricultural products between Russia and China is advancing. Last year, its trade turnover increased by 42%, exceeding $7 billion. And according to the results of the first quarter, the growth was already over 90%, reaching almost $2.5 billion. “Russian farmers are ready to significantly increase the export of their products to the Chinese market and expand the range of supplied ...

Source: Agroxxi