Russian grain exporters to supply directly to 13 countries, bypassing foreign traders

Russian exporters will supply grain to 13 countries directly, without foreign intermediaries, the Grain Exporters Union told Interfax on October 18. The decision was made after a meeting on October 11, at which it was recommended that exporters limit sales exclusively to them, committing not to sell Russian grain to winners of foreign tenders. This new strategy is aimed at curbing sales at low prices and eliminating the practice of intermediaries reselling Russian grain. According to the union's general director Eduard Zernin, from October 11, deliveries will be made directly to government agencies and sovereign buyers in Egypt, Tunisia, Algeria, Morocco, Jordan, Saudi Arabia, Bangladesh, Qatar, Kuwait, South Korea, Pakistan, India and Iraq. Traders reacted to the news by noting that the flow of Russian grain is becoming increasingly limited and controlled, especially as state agencies become the world’s largest buyers of wheat, with Egypt leading the imports with 2.9 million ...