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Export News
30-07-2024
The Russian Grain Exporters Union has announced that Russia has become China's largest pea exporter, accounting for nearly half of China's total pea imports. This achievement was made in less than two years after entering the $1 billion market, surpassing Canada.
According to the union's pea export data, Russia exported 1.13 million tons of peas to China during the 2023/24 agricultural season, capturing a 49.1% market share. Canada's share, which previously dominated around 95% of China's pea imports in past years, has dropped to 44.6%.
The latest pea export data indicates that Russia is rapidly gaining a larger share of China's agricultural import market, especially amidst increasing trade tensions between China and Western countries.
China is using peas to produce pea protein, which, like other plant-based proteins, is used as an ingredient in many increasingly popular food products. A significant portion of China's pea protein is exported to global markets.
Since 2021, Russia's pea production has been steadily increasing, setting records each year. However, the country lacks facilities to produce pea protein. China, a major producer of pea protein, allowed Russia to enter its market in October 2022.
Facing sanctions from the West due to the conflict in Ukraine, Russia is seeking to diversify its trade by redirecting trade flows towards countries in Asia, the Middle East, Africa, and Latin America.
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