The 16th meeting of BRICS leaders was held in Kazan, Russia, from October 22 to 24, which was the first summit of BRICS after the historic expansion of its membership. 2006 saw the first meeting of the foreign ministers of China, Brazil, Russia and India on the sidelines of the United Nations General Assembly, kicking off cooperation among BRICS countries. 2011 was the year in which South Africa joined the group, and BRICS became an official member of the United Nations. In January 2024, Saudi Arabia, Egypt, the United Arab Emirates, Iran and Ethiopia officially became members of BRICS, expanding the number of BRICS countries from five to ten, and further expanding the complementarity and potential for cooperation in agricultural trade, which is expected to take a new step forward in agricultural trade cooperation.

What is the situation of agricultural production and trade in BRICS countries?

BRICS countries have a rich variety of agricultural products. According to the Food and Agriculture Organization of the United Nations (FAO), the agricultural output value of BRICS countries accounted for 54.3% of the global agricultural output value in 2022. Among them, the production of cereals, fruits, meat, beans and cake meal account for more than 40% of the global total, eggs and fiber crops (cotton, hemp, etc.) account for more than 50%, and sugar crops and vegetables account for more than 60%.

Rapid growth in agricultural trade. in 2019-2022, the BRICS countries' agricultural exports will grow from US$236.56 billion to US$327.91 billion, with an average annual growth rate of 11.5%; imports will grow from US$304.90 billion to US$423.90 billion, with an average annual growth rate of 11.6%; and the trade deficit will grow from US$68.33 billion widened to $95.99 billion, an average annual growth of 12.0%.In 2022, the total import and export of agricultural products of BRICS countries will be $751.81 billion, accounting for 19.2% of the global total import and export of agricultural products.

How is China's agricultural trade with BRICS countries?

The growth rate of imports is greater than that of exports, and the trade deficit is widening. According to data from the State General Administration of Customs, China's imports of agricultural products from BRICS countries grew from $37.98 billion to $73.61 billion in 2019-2023, with an average annual growth rate of 18.0%, and imports accounted for 31.3% of China's total imports of agricultural products in 2023; exports increased from $5.28 billion to $6.55 billion, with an average annual growth rate of 5.6% in 2023, with exports accounting for 6.6% of China's total agricultural exports; and the trade deficit widening from $32.70 billion to $67.06 billion, with an average annual growth rate of 19.7%.

Export markets are relatively concentrated and export types are more dispersed.In 2023, China's top three export markets to BRICS countries are Russia, the UAE and India, with export value of US$2.64 billion, US$1.10 billion and US$0.67 billion respectively, accounting for 40.2%, 16.8% and 10.2% of the value of agricultural products exported to the BRICS countries, respectively. The top five agricultural products exported by China to BRICS countries are garlic, tomato, sunflower seeds, other sugars and mushrooms, with export value of US$290 million, US$280 million, US$260 million, US$200 million and US$180 million in 2023, respectively. Of these, garlic is mainly exported to the UAE, Brazil and Russia, tomatoes and other sugars are mainly exported to Russia and Saudi Arabia, sunflower seeds are mainly exported to Iran and Russia, and mushrooms are mainly exported to Russia.

The sources of imports are highly concentrated, mainly from Brazil and Russia. imports in 2023 will be $58.56 billion and $8.80 billion, accounting for 79.6% and 12.0% of agricultural imports from BRICS countries, respectively. In terms of imported varieties, the top five agricultural products imported by China from BRICS countries are soybeans, beef, corn, chicken products and sugar, with imports amounting to US$41.84 billion, US$6.08 billion, US$4.19 billion, US$2.38 billion and US$2.02 billion respectively in 2023, all of which are mainly from Brazil.

What about China's agricultural trade with the new BRICS members?

According to data from the State General Administration of Customs, in 2023, China's total import and export of agricultural products with the new BRICS members (Saudi Arabia, Egypt, the UAE, Iran, and Ethiopia) amounted to US$3.75 billion, accounting for 4.7% of China's total imports and exports with BRICS countries; exports amounted to US$2.21 billion, accounting for 33.7% of China's total exports to BRICS countries; and imports amounted to US$1.55 billion, accounting for 2.1% of China's total imports from BRICS countries; imports of 1.55 billion U.S. dollars, accounting for 2.1% of China's total imports from BRICS countries; trade surplus of 660 million U.S. dollars. And China has a trade deficit of $67.05 billion in agricultural products with BRICS countries.

In 2023, the top 10 agricultural products exported by China to the new BRICS members are sunflower seeds, garlic, ginger, walnuts, tomatoes, rice, other sugars, peanuts, flavored spices and melon seeds. Among them, ginger, walnuts, rice, peanuts and melon seeds accounted for more than 50 percent of total exports to BRICS countries.

In 2023, the top 10 agricultural products imported by China from the new BRICS members are rapeseed oil, rapeseed meal, coffee, shrimp, soybeans, flax, mung beans, scallops, pistachios and sesame seeds. Among them, imports of rapeseed meal, scalloped fish, flax, sesame, mung beans and pistachios accounted for more than 50 percent of total imports from BRICS countries, further reflecting the trade complementarity between the two sides.