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All news / How Soybean Made China And Russia Two Important Trading Partners

  • 30 Oct 2020, 11:41

Commentators believe that trade relations between Russia and China have changed significantly following the trade war between the United States and China.

Russia is currently one of China’s most important trading partners. This was not unexpected, given China and the United States trade war.

Soybeans seem to have been the focus of many trade communications as a strategic product for the Chinese. The Chinese tend to buy less from the United States, and Russia could be a good option for this change.

Under such circumstances, the $ 200 billion turnovers between the two countries in the coming years will not be unexpected.

According to the latest published reports, about 0.8 million tons of 0.9 million tons of Russian soybeans exported in 2018, were exported to China.

Experts estimate that Russia is trying to export millions of tons of soybean produced to China annually. If this plan implemented by Moscow, American traders would be at risk of losing one of the country’s best agricultural markets and the billion dollars in financial benefits associated with it.