Russia Needs To Find New Sales Markets For 25% Of Its Agricultural Exports

MOSCOW, April 1 (RIA Novosti) - Russia needs to find markets for 25% of its exports after banning agricultural products to unfriendly countries, Vitaly Mankevich, Chairman of the Russian Federation of Asian Industrialists and Entrepreneurs, told Sputnik at a press conference on Russian-Chinese relations. 

 

On April 1 Deputy Chairman of the Security Council of the Russian Federation Dmitry Medvedev said that Russia will not export grain to unfriendly countries that have taken sanctions against Russia in the context of Russia's special military operation against Ukraine. The list currently includes 48 countries. 

 

Mankevich noted that in 2021 Russia's agricultural exports will be $36.036 billion, up 22%, with the EU leading the list of importing countries ($4.681 billion, or 13% of total exports). Among the top ten importers of Russian agricultural products, now classified as unfriendly, are South Korea ($2.486 billion, or 6.9% of exports), Ukraine ($882 million, or 2.4%) and Japan ($719 million, or 2.0%.) 

 

According to Mankevich, "In this way, Russia needs to find new markets for 25% of its own agricultural exports, which amounted to more than $9 billion, while maintaining last year's export volume. Russia's main exports to unfriendly countries are fish, oil and grease products and processed products and grains. All these products are needed in the Chinese market." 

 

According to Mankevich, switching to rubles and yuan in settlements with China and other friendly countries is not a problem because Russia and China are working on local currency settlements. 

 

China takes the third place among countries importing Russian agricultural products in 2021