China has lifted trade restrictions with Russia that will allow imports of wheat and barley from all regions of the world’s largest wheat exporter, ProAgro Group reports, citing Reuters.
China, which imported a record volume of wheat last year, will no longer restrict wheat and barley trade to only certain parts of Russia, the report said. The restriction had been due to phytosanitary concerns.
The announcement came as Russian President Vladimir Putin was visiting Beijing during the start of the 2022 Winter Olympics to sign a series of economic agreements between the two countries.
Countries that had been leading wheat exporters to China, such as France, Canada and Australia, likely will see their share of the China market reduced.
Russia also has expanded in several other markets in recent months, gaining a bigger share in Saudi Arabia and Algeria.
