The European Union in 2021 overtook China in the purchase of Russian food

Published 2022년 2월 22일

Tridge summary

In 2021, the European Union became the largest buyer of Russian food products, investing $4.7 billion, a 41% increase from the previous year, and surpassing China as the leading buyer. The EU's purchases were primarily driven by crabs and grains, with crabs doubling in export value to $930.7 million. This increase was attributed to the pandemic, which led to a rise in demand for crab in the United States. Meanwhile, shipments to China fell by 12% to $3.5 billion, largely due to the closure of Chinese ports for Russian fish products. This downturn allowed Russian fishermen to strengthen their position in the EU market, leading to a 43% increase in fish fillet shipments to the EU. Additionally, there was a significant growth in the export of grain and corn to the EU.

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

Original content

Exports to the EU were boosted by crabs and grains, while shipments to China sank due to the closure of ports for Russian fish The European Union became the largest buyer of Russian food in 2021, follows from the materials of Agroexport. Last year, the EU purchased agricultural products from Russia for $4.7 billion, which is 41% more than in 2020, and displaced the former leader, China, from the first line. Russian food supplies to the Celestial Empire fell by 12% to $3.5 billion in 2021. At the end of the year, China took only third place, leaving behind Turkey, which increased purchases of Russian agricultural products by 38%, to $4.3 billion. Increased food supplies to the EU countries in 2021 were mainly due to an increase in shipments of fish products, as well as grain. The share of fish products accounted for almost 40% of all exports to European countries in monetary terms - $ 1.9 billion. The share of grains - a little more than 12%, or $ 577 million. The most noticeable ...

Source: Specagro