World meat industry news

All news / Russian exports to China exceeded imports for the first time

  • 13 Feb 2019, 09:25

The trade turnover between the two countries in 2018 for the first time exceeded $ 100 billion.   Russia sold $ 56 billion worth of goods and bought it at $ 52 billion. Moreover, during autumn visit to the People's Republic of China, Prime Minister Dmitry Medvedev said that the next goal was a trade turnover of $ 200 billion.

Theoretically, this is a real task. But there is no confidence in its achievement, since everything depends on how the trade war between China and the US ends, said Alexander Dushkin, asset manager of the International Fund for Private Investment: “I think that the movement towards this figure is very realistic, since China is a producer of practically all consumer goods consumed by the world, so this is very realistic. In general, one would expect that this trade will increase, because Russia can supply China with a lot of food, grain, fish, meat products, with which China has great difficulties, especially with ecological food. Russia could increase supplies very strongly in this segment/ There are also commodities, oil, gasoline, copper and so on, but there is one problem - the potential agreement between China and the United States. And depending on this agreement, this can all greatly influence the volume of China’s purchases from the whole world, including Russia.”

In the Russian exports to China  more than 41%  was oil and oil products, but at the beginning of this month, the PRC General Customs Administration published a list of Russian poultry companies that can supply meat to China. Beijing closed its market for Russian poultry meat 14 years ago.