Thursday, October 22, 2020

Trade Representative: Russia has all the prerequisites for becoming a major supplier of soybeans to China

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Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]

China’s trade representative Sergey Inochen said Russia has all the prerequisites for becoming a major supplier of soybeans to China, according to the Russian news agency Sputnik.

“There are now negotiations to increase the production of these products (soy), including those on the Russian side – through the relevant ministries and departments,” Enoch said on the sidelines of the Russian-Chinese exhibition in Harbin, told Sputnik. A major supplier of soybeans to China, but we have all the basic conditions for this. ”

The trade representative pointed out that soybeans are a strategic resource, and the volume of what can be supplied to China may reach $ 40-45 billion per year in terms of total value.

He added that soybeans are one of the main feedstocks of Chinese cattle, so “China is interested in the existence of reliable suppliers of these products.”

“In this regard, it makes sense to assume that China is in talks with other suppliers of soybeans, not just with Russia.”

China consumes about 60 percent of the world’s soybeans to feed its livestock sector, the world’s largest. Factories are grinding oilseeds to produce a major component of animal feed.

The sixth Sino-Russian exhibition will be held in Harbin, China, from June 15 to 19. The main theme of the exhibition this year is “Russian-Chinese Cooperation: Opportunities, Possibilities and Future”.

Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]

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