China is expected to become a major market for Russian wheat and sunflower oil

Foreign media news on March 10: S & P global Platts said that the severe financial sanctions imposed by the West on Russia threatened Russia’s agricultural exports to its traditional market, Europe. China could become a major buyer of Russian wheat and sunflower oil.

Recently, the Chinese government officially approved the import of wheat from all regions of Russia and allowed Russia to use deep-sea ports to transport wheat. Previously, China only allowed seven regions of Russia to export wheat to China, and it can only use road and railway transportation.

China provides great opportunities for Russian wheat. As wheat replaces corn and the amount of wheat in animal feed increases, China’s wheat demand has increased in 2021.

Russia is also expected to enter China’s huge vegetable oil market, because the interruption of exports from Ukraine, the number one sunflower oil exporter, has increased China’s demand for Russian products.

Source: Master Boyi

Post time: Mar-16-2022