Russian grain exporters are ready to increase shipments to China using large-tonnage vessels.

🇷🇺🇨🇳Russian sellers specializing in agricultural product exports are ready to carry out large shipments of wheat, barley, and corn to China using large-tonnage vessels such as "Panamax" class and above, and are assessing the potential for annual exports of 5 million tons, as reported by the chairman of the Grain Exporters Union, Eduard Zernin, after the Russian-Chinese business forum held in Shanghai.

"We are ready to increase the trade turnover using CIF terms (cost, insurance, and freight included) for delivering grain from the southern ports of the Russian Federation to the seaports of China and payment in yuan. We are successfully operating under current conditions and are willing to bear the costs of freight and insure military risks associated with deliveries from the ports of the Azov-Black Sea basin," he stated.

According to Zernin, the volume of Russian grain exports to China in the current season (which started on July 1, 2022) has exceeded 600,000 tons. "However, this corresponds only to cross-border trade," he noted. "We believe that achieving export volumes of wheat, corn, and other agricultural crops corresponding to the potential of both sides is one of the important tasks."

"We sincerely hope for the removal of what we consider overly stringent phytosanitary restrictions by China and are ready to compete in the Chinese market," he concluded.

Based on the original source...