Expert and analytical center of agribusiness AB-Center analyzed the possibilities of the Russian Federation to increase the export of soybeans to China.
In 2017, the volume of soybean exports from Russia to China reached 451.4 thousand tons, which is 16.9% higher than in 2016 and five times the level of five years ago. Domestic beans provide 0.4% of China's total demand for such products.
Expansion of export supplies to the PRC is one of the key drivers of the development of the industry for cultivating the culture in the Far Eastern Federal District, from where, in the main, exports are carried out. Last year, the Far Eastern Federal District gathered a record harvest of beans - at a level of over 1.95 million tons, which is 39.8% more than in 2016. The export of soybeans from the Russian Federation to the PRC this year can be from 600 to 700 thousand tons. Such a forecast is possible because of favorable pricing conditions and in connection with the duties imposed by China on supplies from the United States. In the medium term, the average annual exports of Russian beans to the PRC may exceed 1 million tonnes, provided transport and logistics infrastructure is developed.
Source: Sphere Publishing House.
