RT channel (Russia) said that the number of Chinese industrial and agricultural products imported from Russia continued to go up, up 44% last year.
“China has regained its position as the largest importer of Russian agricultural and food products, a position that was lost in 2021,” the Agroexport Center assessed. Two years ago, the EU was the top importer of Russian agricultural products.
China remains the top importer of Russian canola oil, poultry, beef, soybeans, oats and flaxseeds. China is also the top buyer of Russian honey and linseed oil.
Preliminary data from the Federal Customs Service shows that in the past year, Russian canola oil exports to China have doubled.
The East Asian country now accounts for nearly 70% of Russia’s total canola oil exports. Exports of fish and seafood also increased significantly, with a total volume exceeding 500,000 tons.
Data shows that nearly 140,000 tons of poultry meat was shipped to China last year, 11% higher than in 2021.
Agroexport said: “China still holds the leading position among the countries that import Russian poultry meat. About 40% of the total volume of Russian poultry meat exports in 2022 will go to China.
Agroexport added that Russia has the potential to further expand food supplies to China. Agroexport lists the most promising exports as fish and seafood, grains, meat products and vegetable oils.
Russian President Vladimir Putin said on February 9 that Russia’s measures to respond to threats in the economic sector posed by Western countries were “effective”.
After Russia conducted a special military operation in Ukraine, Western countries imposed sanctions on Moscow. Many sectors of Russia have been affected by these sanctions.
In an announcement on February 10, Russian Deputy Prime Minister Alexander Novak said that the country would cut oil production by 500,000 / barrel day, or about 5%, next March.
Russia’s oil production cuts come in the context that the West has just imposed a ceiling on Russian oil and petroleum products.