China is interested in increasing soybean purchases from Russia

China is interested in increasing soybean purchases from Russia According to TASS, this was stated by the Head of the Ministry of Commerce of the People’s Republic of China Zhong Shan during negotiations with the Minister of Economic Development of the Russian Federation Maxim Reshetnikov.
«We need to boost multilateral and regional cooperation, promote the development of international interaction formats, and to support formation of an open world economy,» Zhong Shan said.
He added that Beijing intends to develop cross-border e-commerce with Russia, promote cooperation and would like to import more agricultural products, in particular soybeans.
Russia has been able to supply wheat, corn, rice, soybeans and rapeseed to the Chinese market since the end of 2015. In July last year, Chinese authorities allowed import of soybeans from all regions of Russia. It became possible to deliver soybeans to China by all means of transport — by water, by rail, by plane and by road, subject to compliance with anti-epidemic and quarantine requirements.
Over the past 10 years, soybean production in Russia has quadrupled (to 43.6 thousand centners in 2019), and the area sown with it more than doubled, having reached 3 million hectares.
Moreover, in addition to the Far East, which was the leading soybean region of the Russian Federation 10 years ago, soybean plantations began to widen in Siberia and the European part of the Russian Federation.

Its area in the Central Federal District increased by 587% compared to 2010, and in the Siberian Federal District — by 570%.

In the Far East, Chinese agricultural holdings are already among the largest landowners. The PRC farmers are actively occupying land in the Amur Region, Khabarovsk Territory and Primorye, since rent there is much cheaper than in China, says Vladislav Novoselov, Managing Director of the Consulting Company BEFL.
Source: finanz.ru
Image source: photogenica.ru