26.08.2024, 19:14
🌾 Russia Strengthens Its Position in the Chinese Flour Market: Forecasts Until 2030
🔹 By 2030, the export volume of Russian wheat flour to China could reach 200-250 thousand tons, generating approximately 80-100 million dollars.
🔹 In 2023, Russia supplied 143 thousand tons of flour to China, capturing 65.7% of the total flour import volume in the country.
🔹 Demand for specialized types of flour and premium products is growing in China, particularly among urban residents with high incomes.
Russia is steadily increasing its export of wheat flour to China, demonstrating significant potential by 2030, when the supply volume could reach 200-250 thousand tons, generating around 80-100 million dollars for the country. According to a report prepared by the "Agroexport" center under the Russian Ministry of Agriculture, Russia had already become the leading supplier of wheat flour to China in 2022, exporting 31 thousand tons to the market. In 2023, exports increased more than 4.5 times, reaching 143 thousand tons, which accounted for 65.7% of the total wheat flour imports into China. The value of Russian flour imported by China during this period was 56.5 million dollars.
The growing demand for Russian wheat flour in China is attributed to its high quality, which is particularly valued by local consumers. Additionally, there is a steady interest in specialized types of flour, such as baking flour, noodle flour, and steamed bun flour. These products are gradually becoming important in the preferences of Chinese buyers. Besides traditional flour, the demand for flour from niche crops like quinoa and lentils is also rising in China.
Moreover, the market is showing a trend towards increased demand for large packages of flour—5 kg and above. In contrast, specialized and premium flour is being purchased in smaller packages, up to 1 kg. Packaging design plays a crucial role in promoting products in the Chinese market. Consumers appreciate not only its attractiveness and informativeness but also the integration of elements of Chinese culture, making the product more appealing. Gift packaging is also trending.
The development of the premium flour segment is becoming a key trend in the Chinese market. The demand for higher-quality products is growing among urban residents with high incomes, forcing producers to offer flour with more complex grain processing that meets the high demands of consumers.
Thus, Russia continues to strengthen its position in the Chinese wheat flour market, effectively adapting its products to local consumer preferences and considering the dynamics of market changes.