Agriculture & Food

Russian satellite news agency, Moscow, December 2 -- The Federal AgroExport Center of the Ministry of Agriculture of Russia told the satellite news agency that in the first 10 months of this year, the export volume of Russian agricultural products to China in international trade increased by 34%.

The news shows that China ranks second among Russia's agricultural product importers. In 2021, China will rank third only after the EU and Türkiye.

The Center said that the growth of international trade exports of agricultural products to China was due to the increase of international trade exports of rapeseed oil and frozen fish, which increased by 1.2 times and 81% respectively. These two types of commodities are the main agricultural products exported by Russia to China.

It was emphasized in the news that the growth rate of international trade exports of agricultural products to China was more than twice that of exports to East, Southeast and South Asian countries. In 2022, the procurement of Russian agricultural products in these countries will increase by 14%.

According to the research of PricewaterhouseCoopers, Rabobank and Temasek in Singapore, Asia's share in the global food market will reach 50% by 2025, and the market size may reach 8 trillion by 2030.

On September 1, Wang Kai, Director of the Eurasian Department of the Ministry of Commerce of China, said at the China Russia Food and Agricultural Products Online Matchmaking Conference that the trade volume of agricultural products between Russia and China in 2021 would reach 5.99 billion US dollars, up 7.7% year on year, a record high. In the first half of this year, the trade volume of agricultural products between Russia and China reached 3.57 billion US dollars, maintaining the momentum of growth. According to the data of the Russian Center for International Trade and Export of Agricultural Products, Russia ranks 12th in the list of countries supplying agricultural products to China according to the results of 2021. At the same time, Russia's exports to China doubled in five years.