Exports of Russian agricultural products to China increased by 24%
Russian agricultural exports to China increased by 24% compared to the same period last year.
More than 3.7 million tons of food products worth 3.2 billion dollars were shipped to China in the first 10 months of 2020. The country accounts for 14% of the total volume of all Russian agricultural exports.
Such growth resulted due to increased exports of fat and oil products and meat products. China takes the lead among all Russian sunflower oil buyers with supplies increased 2.2 times to 447 million dollars. Soybean oil sales increased 1.8 times to 213 million dollars, and rapeseed oil sales increased by 30% to 179 million dollars.
China accounts for about 65% of all Russian poultry exports. Russian companies have shipped to the country products worth 226 million dollars since the beginning of the year, which is 2.8 times more than last year. Russia has also increased shipments of crustaceans, soybeans, rapeseeds, meat and bone meal, flax seeds, sugar confectionery products and ice cream.
"This positive trend is due to the two countries' successful work in removing existing trade barriers. Recently, Russia has got an opportunity to supply poultry, beef, milk and dairy products to China. China has allowed the import of Russian beef in January 2020, which led to an increase in exports to 31 million dollars. Besides, Russia and China signed a cooperation agreement last year, which contributed to a significant increase in soybean exports," the Deputy Minister of Agriculture Sergei Levin said.
The two countries continue to work on expanding the nomenclature and lists of agricultural suppliers. At the end of October, the list of exporters of dairy products and ice cream to China was expanded.
There is potential for further increase in the supply of Russian fat and oil, meat and fish products to China. Other promising products to export include sugar, cereals, legumes, confectionery and dairy products.
FROM:https://mcx.gov.ru/en/news/Exports-of-Russian-agricultural-products-to-China-increased-by-24/