{"id":19406,"date":"2023-10-25T14:04:38","date_gmt":"2023-10-25T14:04:38","guid":{"rendered":"https:\/\/www.selinawamucii.com\/news\/?p=19406"},"modified":"2023-10-25T14:04:43","modified_gmt":"2023-10-25T14:04:43","slug":"china-signs-strategic-agricultural-deals-with-u-s-russia","status":"publish","type":"post","link":"https:\/\/www.selinawamucii.com\/news\/2023\/10\/25\/china-signs-strategic-agricultural-deals-with-u-s-russia\/","title":{"rendered":"China signs strategic agricultural deals with U.S., Russia"},"content":{"rendered":"\n

China on October 23, 2023 inked separate agricultural import deals with the United States and Russia<\/a>.<\/p>\n\n\n\n

The U.S. ceremony in Des Moines, Iowa was a contractual agreement between private Chinese importers and American grain suppliers. <\/p>\n\n\n\n

Multiple firms signed\u00a011 purchasing deals<\/a>\u00a0during the\u00a0China-U.S. Sustainable Agricultural Trade Forum<\/a>, which U.S. Soybean Export Council (USSEC) organised.<\/p>\n\n\n\n

The deal will see China, the world’s largest soybean importer, ship more of America’s biggest oilseed export. <\/p>\n\n\n\n

This agreement also ends a hiatus in bulk trade deals between China and the U.S., which has lasted since 2017. <\/p>\n\n\n\n

In its part, the Russia-China deal has a bigger scope than the Sino-American equivalent. It covers a raft of trade areas ranging from e-commerce and logistics to agriculture<\/a>.<\/p>\n\n\n\n

To draw up the strategic pact, 800 Chinese companies’ representatives congregated in Shenyang in northeast China. They were sizing up the Russian market just a week after the meeting between the two countries’ leaders in Beijing. <\/p>\n\n\n\n

Northeast China has recently become the centre of cross-border trade with Russia. Between January and September, 2023, the region’s Lianoning Province has welcomed 40 companies from Russia, which have established branches here.\u00a0<\/p>\n\n\n\n

In return, Russia allowed sea passage of Chinese goods from landlocked Jilin in China in May, 2023. Jilin’s traders can now divert to the Vladivostok port on the Trans-Siberian rail line en-route to other parts of eastern China.\u00a0<\/p>\n\n\n\n

Stakes are High in Sino-America deal<\/h3>\n\n\n\n

For the China-U.S. deal, stakes are high as China currently ranks as the biggest global importer of American agricultural commodities. <\/p>\n\n\n\n

By October 19, however, imports of U.S. soybeans by China had fallen by 39% <\/a>below the October 2022 figures. <\/p>\n\n\n\n

In comparison, China’s global imports of food-related items soared by\u00a08.3%<\/a>\u00a0by mid-2023. This is even as Beijing looks for a way to be\u00a0100% self-sufficient<\/a>\u00a0in agriculture.\u00a0<\/p>\n\n\n\n

Russia-China trade Underexploited<\/h3>\n\n\n\n

Regarding the Russia-China co-operation, trade potential is currently underexploited but could go higher with the deal. This is despite China’s exports to Russia having surged by 153% by April, 2023.\u00a0<\/p>\n\n\n\n

In February, China was the biggest buyer of Russia’s rapeseed oil, soybean, oat, flaxseed and poultry. However, Beijing dragged on a key agricultural produce of Moscow, namely wheat.\u00a0<\/p>\n\n\n\n

Of the 6 million tons of wheat that China imported between January and April 2023, Russian wheat represented only 30,000 tons<\/a>. This is why the raft of deals this October could ramp up trade, especially of wheat. <\/p>\n\n\n\n

In short, the two separate deals, especially at the climax of the American soybean harvest<\/a> promises improved global agricultural trade.<\/p>\n","protected":false},"excerpt":{"rendered":"

China on October 23, 2023 inked separate agricultural import deals with the United States and Russia. The U.S. ceremony in Des Moines, Iowa was a contractual agreement between private Chinese importers and American grain suppliers.  Multiple firms signed\u00a011 purchasing deals\u00a0during the\u00a0China-U.S. Sustainable Agricultural Trade Forum, which U.S. Soybean Export Council (USSEC) organised. The deal will see…<\/p>\n","protected":false},"author":3,"featured_media":19407,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[],"yoast_head":"\nChina signs strategic agricultural deals with U.S., Russia - Selina Wamucii | Food & Agriculture News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.selinawamucii.com\/news\/2023\/10\/25\/china-signs-strategic-agricultural-deals-with-u-s-russia\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"China signs strategic agricultural deals with U.S., Russia - Selina Wamucii | Food & Agriculture News\" \/>\n<meta property=\"og:description\" content=\"China on October 23, 2023 inked separate agricultural import deals with the United States and Russia. 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