Russia is increasing the supply of vegetable oil to China

Published 2023년 7월 17일

Tridge summary

Economic cooperation between Russia and China is growing, with Russia's share in China's vegetable oil imports increasing from 13% to 25% in a year. This is primarily due to the boom in the Chinese catering industry following the lifting of COVID-19 restrictions. Russia is becoming a major supplier of vegetable oils to China, particularly sunflower, rapeseed, soybean, and linen oils.

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

Original content

Economic cooperation between the Russian Federation and the People's Republic of China is becoming more and more extensive, including a significant number of export-import points. So, recently, experts are increasingly pointing to the "oil" nuance. Russia's share in China's vegetable oil imports rose to 25% from 13% a year earlier. The growth of Russian exports of this variety is associated with a boom in Chinese catering after the abolition of covid restrictions, and products coming from the Russian Federation attract residents of a neighboring state with their high quality. Chinese oil market According to experts, the global changes in the export market due to sanctions are fraught not only with losses, but also with new business opportunities from the Russian Federation. For the second year in a row, the Russian-Asian Union of Industrialists and Entrepreneurs (RAIIE) has noted the growing interest of China in products from the Russian Federation. “Our Chinese partners got their ...

Source: Oilworld