30 Dec 2022 13:56

Agricultural trade turnover between Russia and China grows 36% in 11M to $6 bln - Putin

MOSCOW. Dec 30 (Interfax) - Russia and China increased trade in agricultural products by 36% in 11M 2022 to $6 billion.

"Mutual trade in agricultural products is increasing. In January-November, trade turnover increased by 36% to $6 billion," Russian President Vladimir Putin said during talks with Chinese President Xi Jinping via video link on Friday.

In 2021, the trade turnover between Russia and China in the agricultural sector exceeded $5 billion.

The Agroexport Center estimates the potential supply of Russian agricultural products to China at $6-10 billion per year. In 2021, exports amounted to $3.6 billion compared with $4.1 billion a year earlier and in 7M of this year - $2.3 billion compared with $2.1 billion in the same period last year.

Fish and seafood will be the most in-demand product on the Chinese market. In 2021, Russia delivered nearly $480 million in frozen fish to China compared to $1.2 billion in 2020. In 7M of the year, exports totaled $432.5 million.

There is also potential for growth in supplies of grain crops, meat products and vegetable oils.