Russia's UGC to establish direct ties with African countries for grain exports

ST. PETERSBURG. July 31 (Interfax) - United Grain Company (UGC), one of Russia's top five grain exports, plans to establish direct ties with importers in African countries, the company's deputy CEO, Ksenia Bolomatova said at the Russia-African forum in St. Petersburg on Friday.

"Other than Egypt, we worked with all other countries through international traders, meaning indirectly. The now changed geopolitical situation has become an excellent incentive for us to begin establishing a direct dialog," she said.

"And now we have an opportunity to offer our partners from the African continent individual approaches, have the opportunity to discuss their needs with them in terms of grain volume and quality and methods and means of payment," Bolomatova said.

Egypt, Algeria and Morocco are among the top ten grain importers in the world, she said. "Demand in other countries is not as great, but no less significant. And here one must note that Africa as a whole accounts for 20% of the world's grain trade. And given the growth of the prosperity and size of its population, this volume will only increase," Bolomatova said, recalling that Russia has been the undisputed leader in wheat exports for years.

She said that, given its agroclimate conditions, Africa imports virtually all of its wheat. The continent imported 54 million tonnes of wheat, including flour in the grain equivalent, in the agricultural year from July 2022 to June 2023.

"According to some forecasts, this amount will reach 58 million tonnes in the current agricultural season," Bolomatova said.