For the first time, Russia sold food to China practically as much as it imported

Published 2021년 3월 4일

Tridge summary

Russia has seen a significant growth in agricultural exports, with a 36% increase in the first part of the year, reaching $4.1 billion. Grain exports, in particular, have doubled to $1.8 billion, making Russia the world leader in wheat exports. Despite a decrease in the export of raw materials due to the pandemic, non-resource non-energy exports have hit an all-time high of $161.3 billion in 2020. The share of the US dollar in Russian exports to China has dropped to 60.2%, indicating a continued trend of de-dollarization. Russia is working towards increasing trade with China to $200 billion by 2024.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The world continues to import Russian food products. For the first time, our country sold abroad food practically as much as it imported. China, which until recently perceived Russia only as a supplier of raw materials, finally tasted products from Russia. What helped Russian food abroad and is there potential for growth in its exports in the future? The export of agricultural products since the beginning of the year has grown by more than a third - by 36%. Russia has already sold $ 4.1 billion worth of goods. These are the data of the Federal Center for the Development of Export of Agricultural Products (FGBU "Agroexport") under the Ministry of Agriculture. Last year, agricultural exports grew by 20% and reached $ 29.5 billion. Grain exports from Russia in January-February more than doubled, to $ 1.8 billion. Such a high rate of supply is explained by the fact that exporters tried to manage to sell more wheat before the introduction of export duties on February 15. In terms of ...
Source: Oilworld

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