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China Increases Russian Soybean Imports

Two countries look to explore further agricultural cooperation along their border areas

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China's attempts to find new soybean suppliers may bring an opportunity for China and Russia to explore further agricultural cooperation along their border areas, reports Realnoe Vremya.

The People's Republic is seeking to replace U.S. soybean in its import. At the moment, Brazil is China's key soybean supplier with a 70% share of the total import volume, according to the Chinese Ministry of Agriculture and Rural Affairs.

Chinese Dongjin Group, which is one of the largest foreign owners of farms in Russia, has three farms in the Russian Far East. According to the farms' management, the company hopes to expand its presence in the region to 200,000 hectares for cultivating soybeans by 2021.

Read the full report here.

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