RusAg and Epinduo, the largest Chinese marketplace for Russian food products, have signed an agreement that enables Russian agribusinesses to penetrate the Chinese market. It was signed with OOO Epinduo, Epinduo’s official representative in Russia.
The opportunity to bring products to the Epinduo marketplace is now open to any member of RusAg’s export accelerator programme who wants to broaden its export geography. RusAg will be providing information on potential suppliers of agricultural products for a final assessment of their exporting potential on the Chinese market as well as inclusive assistance to each exporter to support the launch of their products on the Asian market.
The key requirements for food products include minimum nine months of shelf life, storage temperatures not under refrigeration or sub-zero, no meat components (with the exception of canned fish or canned stewed meat). The marketplace is looking forward to working with producers of confectionery items, sunflower oils, cereals, jams and preserves, honey, balsams, kvass, water, carbonated and alcoholic beverages.
‘As the flagship financial institution for agribusiness, RusAg focuses on developing new conduits for domestic producers to penetrate international markets. With an agreement for ongoing cooperation in place, we believe a significant portion of our clients will be able to reach Chinese consumers in the near future. Given that Epinduo uses a deferred payment scheme, we can also offer clients an opportunity to be financed by RusAg,’ said Kirill Levin, RusAg’s First Deputy Chairman of the Board.
From its side, Epinduo will be responsible for customs and marketing support for Russian producers in China, specifically, for a preliminary assessment of the possibility to export through the Chinese customs, as well as for trademark registration in China, brand adaptation into the Chinese language, product delivery to and customs clearance in China. Epinduo will also be offering the services of a technical importer and customs broker, assisting with product placement on Chinese marketplaces, product promotion and access to Chinese retail chains.
‘Collaboration with Epinduo offers multiple advantages to everybody. Producers can identify reliable buyers and get paid for all their goods in a lump-sum payment, irrespective of whether or not they have been sold. Additionally, the costs they incur in product placement and promotion on an electronic trading platform can be subsidised by export support centres. As a result, Chinese consumers get excellent products from Russia, demand for which is ever on the rise,’ said Anastasia Tarasevich, Epinduo’s General Director in Russia.