Russia’s soybean exports to China soar sixfold in July

MOSCOW, Aug 9 (PRIME) -- Russia’s exports of soybeans to China soared more than sixfold on the year to 80,000 tonnes in July, with combined exports of grain jumping about 50% to 107,000 tonnes, the Federal Center of Quality and Safety Assurance for Grain and Grain Products said in a statement on Friday.

Turkey became top importer of Russian grain in July, with imports almost doubling on the year to 1.2 million tonnes of grain, including wheat, whose sales more than doubled to 1.1 million tonnes. Exports of soybeans to Turkey stood at 19,000 tonnes in July, more than a total figure for the whole of 2018, the center said.

Saudi Arabia imported 376,000 tonnes of Russian grain last month, an about 50% increase on the year. Chickpea, coriander, and barley accounted for the majority of exports to the country.

Iran was the third largest importer of Russian grain in July, raising its imports by 22% on the year to 325,000 tonnes. Exports of Russian barley to Iran remained flat on the year, while corn exports surged 81% to 167,000 tonnes.

In March, Agriculture Minister Dmitry Patrushev said that Russia’s total exports of soybeans jumped 73% on the year to U.S. $293 million in 2018, with China accounting for $246 million.

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