The agricultural minister of Russia’s Amur Region Oleg Turkov announced this week that soybean exports to China will be suspended until June amid the Covid-19 pandemic, Rossiyskaya Gazeta reported this week.
All Amur soybeans have to be processed both by native enterprises or used within the home market, the minister mentioned.
The head of the Ministry believes that this solution should not create serious problems for producers of legumes and its exporters. In his opinion, all Amur soybeans will be sold in Russia.
Local statistics service Amurstat data shows that in 2019, soybean, which is the main agricultural crop of the region, was sown in the Amur Region on an area of 857.1 thousand hectares. Last year, its crop amounted to 855 thousand tons.
According to analysts, Russia’s current ban on soybean exports to China amid the COVID-19 outbreak is not going to disturb the market in China, which has ample reserves and expects extra shipments from main suppliers like Brazil.
