Russian food supplies to the Chinese market may increase

The HEAD of state noted that agriculture is a strategic direction of the Russian-Chinese partnership. According to him, mutual trade in agricultural products is growing at a high pace - last year by more than 41% to $ 7 billion. Putin stressed that the growth was "quite correct on both sides - by equal amounts."

The President also said that national currencies are increasingly being used in mutual trade. “This practice should be further encouraged, as well as the mutual presence of financial and banking structures in the markets of our countries should be expanded. Already two-thirds of the trade between our countries is carried out in rubles and yuan,” the president said. 

According to him, the relevant ministries and departments are working to ensure the quality standards of the supplied products, improve the conditions for mutual access to food markets. “All this makes it possible to count on further growth in Russian food exports to the capacious Chinese market, and will help improve the level of food security in both our countries,” Putin concluded.

The Agroexport Center under the Ministry of Agriculture previously reported that the growth in beef supplies from RUSSIA in recent years has become possible due to the opening of the Chinese market for Russian exporters. As a result, CHINA increased imports of beef and offal from Russia from 2 tons in 2019 to 21.5 thousand tons in 2021 (by $149.2 million). Thus, the share of China in Russian exports amounted to 58.1% in physical terms and 65.8% in value terms. The executive DIRECTOR of Rincon Management, Konstantin Korneev, said earlier that China , in particular, became the target region for the EXPORT of poultry MEAT in 2022 .

Agroexport also estimated that the estimated potential for beer supplies from Russia to China is estimated at $50 million per year. General Director of Rusfair (a distributor of Russian products under its own brand in China) Valery Kaigorodov noted that the Chinese beer market is attractive for Russian exporters. In his opinion, the realization of the potential of Russian exports lies in the field of building the image of domestic beer "as diverse, on a natural basis."