"Middle East Grain Congress-2018", Dubai
DATE
Feb 17, 2018

Russia strengthened its positions on the wheat markets of the Middle East and North Africa – expert

Source

APK-Inform

1859

Russia continues strengthening its positions as the largest global exporter of wheat, and the trend will develop in the future. In addition, countries of the Middle East and North Africa demonstrate a steady growth of demand for the grain of Russian origin, declared the Head of trading department at GTCS Trading DMCC, Oleg Kryukovskiy within frames of the international conference "Middle East Grain Congress" in Dubai, on February 17.

According to him, it is no wonder that Russia has a high export potential, because in the current marketing year the production of wheat reached a record level of 88 mln tonnes, against 72 mln tonnes in the previous season. In addition, in 2017/18 MY the general production of agricultural crops also broke a record – 138 mln tonnes (117 mln tonnes).

Taking into account the high rates of wheat production, in 2017/18 MY Russia will supply nearly 35 mln tonnes of the grain on foreign markets. However, it is worth noting that various logistical difficulties caused by the seasonal factors and oversupply of the grain batches in the ports, can prevent realization of the plan.

Nevertheless, in the current season Russian wheat dominated on the import market of Egypt, and reached nearly 75% of the grain supplies to the country.

In addition, Turkey, Saudi Arabia, Yemen, Vietnam, South Africa, North Africa and Jordan actively purchased Russian wheat. Generally, countries of the Middle East and North Africa cover nearly 32% of all export shipments of Russian wheat.

In turn, the company GTCS Trading DMCC is the largest trader of Russian wheat, and took 13% share of all transactions in the market segment in the current season. As for the forecast for 2018, the general grain production in Russia will reach 120-125 mln tonnes, including 80-83 mln tonnes of wheat, said O.Kryukovskiy.

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