Source: Zerno.ru (Russia)
During the months of January and February this year, Russia’s wheat exports to China amounted to $1.3 million, a significant decrease compared to the same timeframe last year, where exports reached $11.3 million, according to Finmarket, citing the State Customs Administration (SCA) of China.
In February, year-on-year exports saw a decline of 7.4 times, dropping to $878 thousand; however, there was a 2.2-fold increase compared to January, which recorded exports of $392.5 thousand.
As per GTU data, Russian barley exports to China fell from $43.3 million last year to $25.6 million over the first two months of this year, with January being the peak month. Additionally, on February 15, a grain export quota was implemented in Russia, restricting shipments abroad solely to wheat.
In 2024, China’s imports of Russian wheat reached $87.252 million, a 2.5-fold increase from $34.71 million in 2023.
The top exporters of wheat to China in 2024 included Australia ($1.079 billion), Canada ($873.775 million), France ($707.516 million), the United States ($599.54 million), and Kazakhstan ($133.66 million). Last year, China sourced wheat from eight different countries, placing the Russian Federation sixth in the rankings.
In contrast, Russian barley exports in 2024 increased to $177.1 million, up from $110.3 million in 2023.
At present, the Russian Federation is limited to offering only spring wheat and spring barley to China. Nevertheless, experts in Russia suggest that winter wheat and barley hold the greatest potential for export. The federation is actively pursuing permission to include these grains in its offerings to the Chinese market as well.