Russia planning to export 1.5 MMT of agricultural products to China

04.04.2017

The Russian-Chinese LLC Export Food Trade and China’s company Chinese-European Agricultural Development have signed a big long-term contract at the Ag Ministry for supplying Russian farm produce to China. This is the first project for implementing the initiative “New land grain corridor Russia – China.”

The arrival of the first train in China is expected in late April 2017. It will deliver 2 KMT of 2016-crop pulses and oilseeds to the Qinhuangdao development zone from Siberian and Far Eastern farms and silos certified for supplies to China. Several trains of this type will be dispatched in the current year.

It is projected that roughly 1.5 MMT of agricultural products will be exported via the new land corridor in MY 2018/19. These will primarily include cereals and oilseeds (soybeans, barley, rapeseed, linseed), as well as sunflower oil. Combined export volumes are expected to reach 52 MMT by 2028, informs UkrAgroConsult.

The implementation of the “New land grain corridor Russia – China” project started in 2016, when Russia’s LLC Zabaykalsky Grain Terminal and China’s Muyang Holdings signed an agreement on the construction of Zabaykalsky grain terminal (Zabaykalsk – Manchuria). Its facilities will be designed for handling up to 8 MMT of cereals, pulses and oilseeds a year, as well as 29 key silos.

 

UkrAgroConsult

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