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China and Russia Join Closer on Agriculture Trade


Following the Eastern Economic Forum during early September, China and Russia announced the Nizhneleninskoye-Teongjiang Grain Terminal that will be pivotal in transporting Russian grain and oilseeds from the Ural mountains eastward to China.  According to the South China Morning Post the new terminal will be part of the Russia-China Land Grain Corridor.


Russia is now attempting to secure new markets for grain including wheat with a projected export volume of 45.0 million tons for the 2022-2023 market year.  Russia is increasingly dependent on earning foreign exchange from nations such as China that do not subscribe to sanctions against Russia imposed after the invasion of Ukraine.  Since the termination of the Black Sea Grain Initiative and threats to impose an embargo on exports of grain from Ukraine, Russia has profited by taking markets from Ukraine and has benefitted from increased commodity prices as a result of generating an artificial shortage and selling wheat grown in occupied Ukraine.