Russia steps up grain exports with direct deals with allied countries

Published 2024년 10월 31일

Tridge summary

Since October 11, Russia has begun direct grain supply to 13 countries, including Egypt and Saudi Arabia, in an effort to strengthen its global market position and reduce reliance on foreign intermediaries. The Union of Grain Exporters of Russia and the Russian Ministry of Agriculture are spearheading this initiative, which will preferentially trade with government and state buyers, excluding foreign companies without long-term contracts. This move comes as Russia's wheat exports hit record levels, reaching 5.4 Mt in October, thanks to increased global demand and prices. This strategic pivot aims to secure Russia's role as a major grain supplier on the global stage.

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Original content

Since October 11, Russia has begun to supply grain directly to a number of allied countries, without the intervention of international trading companies. This measure, promoted by the Union of Grain Exporters of Russia and supported by the Russian Ministry of Agriculture, is aimed at strengthening Russia's position in the world grain market and reducing the influence of foreign intermediaries in its transactions. Direct distribution to 13 countries Grain shipments have already reached 13 countries, including Egypt, Tunisia, Algeria, Morocco, Jordan, Saudi Arabia, Bangladesh, Qatar, Kuwait, South Korea, Pakistan, India and Iraq. According to Eduard Zernin, president of the Union of Grain Exporters of Russia, these supplies are being delivered directly to government authorities and state buyers in these countries, ensuring a more direct and advantageous trade relationship. Limitations for foreign companies without long-term contracts Foreign trading companies will not be able to ...

Source: Agrodigital