Russia has become the top exporter of beans to China taking over 50% of the market, and beating Canada in just two years after entering the market. Based on the Union of Grain Exporters, Russia’s exports of peas to China have reached 1.13 million tons during the 2023/24 period, resulting in the 49.1 percent market share and Canada’s share fell to 44.6 percentage. This change is occurring because Russia expands its reach within China’s marketplace for imports of agriculture-related products, amid the ongoing tensions in trade between China as well as other Western countries.

Peas are used for the production of pea protein in China — a crucial ingredient in many dietary foods, is seeing a rise in demand. Despite the growing production of peas in Russia however, it is not equipped with the infrastructure needed to manufacture pea proteins as opposed to China and is the largest exporter and producer of this product. In addition there is a reason why it is reported that the U.S. Department of Commerce has placed anti-dumping restrictions against Chinese pea protein due to unfair pricing methods.

Source: reuters.com