The Bulletin of the Institute of Economics of the Russian Academy of Sciences № 1/2023.  World Economy.

Ryazanov Vlas A.

Cand. Sci. (Geogr.), Senior Researcher at the Institute of Economics of the Russian Academy of Sciences, Moscow, Russia

JAPAN AND SOUTH KOREA AS MARKETS FOR RUSSIAN EXPORTERS OF WOOD PELLETS

130-142

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Abstract

The author studies the growth factors and prospects of Japanese and South Korean wood pellets markets due to their increased attractiveness for Russian suppliers after sanction shutdown of European destinations in 2022. A quantitative analysis of the markets of East Asian countries revealed that the key factor in the growth of demand in Japan is an increase in government subsidies, which is why the volume of consumption is growing in progression. In South Korea, the new increase in demand is caused mostly by surge of prices for traditional imported fuels, including natural gas. Russian supplies to these markets doubled in 2022, but exports also grew earlierdespite the lower price attractiveness comparing to the EU market. Analysis of the natural limitations of the world market of fuel pellets allowed to conclude that Russian products are in a great demand, which is confirmed not only by an increase in supplies to East Asia after the European sanctions were imposed, but also by the start of mass export to Turkey, which ships pellets to the European Union.

Keywords: Russia, Japan, South Korea, export, wood pellets, prices, bioenergy.

JEL: С22, Q21, Q23.

EDN: THXCTE

DOI: https://doi.org/10.52180/2073-6487_2023_1_130_142

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Manuscript submission date: 16.01.2023

For citation:

Ryazanov V.A. Japan and South Korea as Markets for Russian Exporters of Wood Pellets // Vestnik Instituta Ekonomiki Rossiyskoy Akademii Nauk. 2023. № 1. С. 130-142. DOI: https://doi.org/10.52180/2073-6487_2023_1_130_142 EDN: THXCTE

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