Head of the Union of Exporters: The launch of grain export trading for rubles can be accelerated with targeted loans to buyers in Russia

Published May 28, 2024

Tridge summary

Russian grain exports have seen a significant increase, surpassing last season's numbers by over 10 million tons, with the total exports for this season exceeding 60 million tons. This increase is despite the resistance and withdrawal of major global grain traders. The market leadership of Russian wheat is well established, with domestic producers accounting for nearly 25% of the market. The departure of large grain traders has created new opportunities for Russian companies, leading to increased activity and record exports. Russian exporters have also diversified their sales markets, including increasing supplies to Asia, sub-Saharan Africa, and Latin America. However, challenges remain in the financial and banking sector, with limited access to trade finance and restrictions on export operations being converted to the ruble zone.

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

Original content

Eduard Zernin said that grain exports from the Russian Federation are already more than 10 million tons higher than last season. Russian grain exports, which have set records in recent years, are also reaching high levels this season. Despite resistance to supplies from the Russian Federation, few people doubt the leadership of Russian wheat on the world market. According to experts, the share of domestic producers on it is close to 25%. He spoke in an interview with Interfax about how the so-called hidden sanctions against Russian grain are being overcome, how the departure of global grain traders from the Russian Federation affected trade, why the mechanism for paying for Russian grain in national currencies has not yet started working, and how to get this process moving forward. Chairman of the Board of the Union of Grain Exporters Eduard Zernin on the eve of the All-Russian Grain Forum opening on Thursday. - Almost a year ago, a number of the world's leading grain traders ...

Source: Zol