Russia boosts grain exports to Latin America in the face of excessive Argentine regulation

Russia has boosted grain supplies to Latin America taking advantage of excessive regulation in Argentina, a traditional breadbasket in the region, and the Kremlin's renunciation of the Black Sea grain agreements, which had caused large losses in the Russian sector. “We have managed to organize a two-way flow between Latin American soybeans and Russian cereal. This greatly reduces logistics and makes our cereal resources in Latin America competitive,” Arkadi Zlochevski, president of the Russian Grain Union (URG), told EFE. The non-profit organization URG admits that the main market for Russian cereal remains North Africa and the Middle East, but believes there is great potential among Latin American countries. Russia has a processing factory in the Baltic enclave of Kaliningrad, which “receives three million tons of soybeans annually,” he highlighted. “The soybeans arrive in large Panamax class ships,” with a capacity of 52,500 tons, from Brazil, Uruguay or Paraguay, Zlochevski ...