Russia: Rosselkhozbank named promising markets for increasing grain exports

Published 2022년 5월 31일

Tridge summary

Experts from Rosselkhozbank have identified Saudi Arabia, Egypt, Ethiopia, Tanzania, Mozambique, Benin, and Niger as potential markets for increasing Russian grain exports. The high grain harvest in Russia and population growth in the Middle East and Africa make these countries promising markets. In 2021, Russia supplied $2 billion worth of wheat, barley, and other crops to Egypt and Saudi Arabia. Russia's 2022 grain harvest is projected to reach a record 130 million tons, including 87 million tons of wheat. Since 2000, Rosselkhozbank has invested around 1.4 trillion rubles in the cultivation, processing, storage, and transportation of grain, supporting the country's grain industry and reinforcing global food security.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The predicted high grain harvest in Russia and the population growth rate in the Middle East and Africa allowed the Rosselkhozbank experts to identify a group of countries that are promising in terms of increasing exports. This group, according to the RSHB Center for Industry Expertise, includes Saudi Arabia, Egypt, Ethiopia, Tanzania, Mozambique, Benin and Niger. Grain already now forms the basis of Russian agricultural exports to the Middle East. Thus, the volume of supplies of wheat, barley and other crops to Egypt and Saudi Arabia in 2021 amounted to $ 2 billion in monetary terms, bank experts note at the All-Russian Grain Forum-2022. “The most promising markets should be considered those where the need for food is growing the fastest. This is due to both population growth and an increase in the still relatively low purchasing power. Such prerequisites are emerging in the Middle East and in a number of African countries. Growth is possible in food supplies to these countries. ...

Source: Zol