Research conducted by Agroindustrial Complex Product Export Development Center(AgroExport) of Russian Ministry of Agriculture shows that Russia's export of dried peas to China has a very good prospect, and Russia can help China make up for the gap caused by the decline of other countries' export of peas to China.
According to ITC Trade Map, China became the world's largest importer of dried peas in 2021, accounting for 26.8 % of global exports with total value of $755.2 million. China's dry pea imports fell by 17.4 % year-on-year in the first five months of 2022, due to falling global production, high prices and reduced exports from Canada and the United States. Canada and the United States were the first and fifth largest sources of dried peas export to China, fell 32% and 96.1% respectively.
In 2021, Russia will become the world's second largest exporter of dried peas after Canada, according to the AgroExport. Russia supplied dried peas to the global market last year valuing $372.7 million, twice more than the amount in 2020. Russia accounted for 18% of global dry pea exports in 2021.
"It should be noted that China is one of the main importers of dried peas in the world, and the prospect of exporting dried peas to China is very good," said the AgroExport in the survey.
In 2021, Russia's agricultural exports to China fell by 13% to $3.549 billion. China's share of Russia's agricultural exports in 2021 was 9.8 %.
In 2021, Russia's agricultural exports value were $36.036 billion, up 22%, and the EU ranked first among the importing countries (USD 4.681 billion, accounting for 13% of the total export volume).