Russia may export at least 1 million tons of grain to China next season

Published 2022년 2월 9일

Tridge summary

Russia is set to begin large-scale grain supplies to China in the 2022/23 season, following the adoption of protocols that allow wheat, barley, and alfalfa imports from all Russian regions. This comes as China has been actively purchasing grain, accounting for nearly half of its global reserves. Despite concerns, opening the Chinese grain market to all Russian regions is expected to increase purchases and optimize logistics, with Russia offering competitively priced grain. In 2021, Russia exported only a small amount of wheat and barley to China, but the new agreements are anticipated to significantly boost these exports.

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

Original content

In the 2022/23 season, Russia may start large-scale grain supplies to China from the Azov-Black Sea basin. This was announced by the Agroexport center subordinate to the Ministry of Agriculture with reference to the chairman of the board of the Union of Grain Exporters Eduard Zernin. According to him, further grain deliveries to China will increase as trade relations develop. This season, test deliveries of one or two shiploads of grain to China will begin. The protocols allowing the supply of wheat and barley to China from all over Russia and allowing the export of alfalfa to China were adopted on February 4 during President Vladimir Putin's visit to China. Zernin recalled that in recent years, China has been actively buying grain on the world market, having accumulated almost half of its world reserves. So, according to ITC Trade Map, in 2020 China imported 8.2 million tons of wheat for $2.3 billion, barley - 8.1 million tons for $1.9 billion. Canada, France and the USA were the ...

Source: AgroInvestor