Russia to replace US soybean exports to China amid escalating trade war
According to Russian Prime Minister Dmitry Medvedev, the country may partially replace US as the leading exporter of soybeans to China. The nations are also planning to work more closely on deliveries of other agricultural goods, including pork, rice, poultry, fish, as well as developing joint logistics projects.
“Soybeans are in very big demand in China,” Medvedev told reporters Wednesday during his three-day visit to China.
“The Chinese market is huge as they import about 95 million tons of soybeans annually, including 30 million tons from the US.”
China, the world’s biggest soybean importer, is currently involved in a long-standing trade dispute with the US. Beijing is seeking to diversify its food supplies after the volume of year-on-year soybean shipments from its overseas partner shrank by more than 80 percent in September.
“A certain part of the soy market has been made available. We agreed with the Chinese partners to hold a more active presence in this particular segment,” Medvedev said, stressing that the step provides Russia with a good opportunity to boost soybean production.
Over the past 10 years, Russia’s soybean production has been growing, with farmers expected to harvest a record 3.9 million tons in the current season that ends in 2019, Bloomberg reports citing projections by the US Department of Agriculture.
Russia will reportedly ship up to 700,000 tons of the product abroad, which is still significantly less than Brazil, the world’s leading soybean exporter, which may sell more than 76 million tons this season.
Russia & China show off life-size model of jetliner that will take on Boeing and Airbus
A model of the CR929, a jointly designed jet, was demonstrated at the opening of China’s largest airshow, which began in the coastal city of Zhuhai on November 6 and is set to last until the end of the week.
The plane, which is set to make its maiden flight in 2023, is expected to eventually compete with the Airbus A350 and the Boeing 787.
“Our program is making progress and is on schedule,” UAC President Yury Slyusar said, as quoted by CNBC. “It is currently in the preliminary design phase and we are also in the supplier and equipment selection phase, which will finish by the end of 2019.”
The prototype fuselage, which was 22 meters long, 6.5 meters tall and 5.9 meters wide, revealed a spacious interior with nine-abreast basic seating in economy class. The salon is equipped with two rows of first-class seats, three rows of business-class seats, and four rows of economy-class seats. The CR929’s cockpit is equipped with dummy instruments, as the actual systems are yet to be chosen.
The basic version CR929-600 is projected to carry 280 passengers over a distance of up to 12,000 kilometers (7,500 miles). The aircraft family will reportedly include a modification with an extended fuselage (CR929-700) and a shortened fuselage (CR929-500). The aircraft length will be 63.25 meters, with a wingspan of 58-61 meters and height of 17.9 meters.
The partners announced plans to work on a wide-body jet program four years ago. The joint venture, dubbed the China-Russia Commercial Aircraft International Corporation (CRAIC), was formed in 2017. The $20-billion program has reportedly sought proposals for the plane’s engine and landing gear.
The engineering center for the development of the aircraft will be located in Russia, according to the chief designer of the CR929 program from the Russian side, Maxim Litvinov.