Russia: in the current season, UGC to export over 2.5 mln tonnes of grains




In 2019/20 MY, United Grain Company (JSC UGC) plans to export more than 2.5 mln tonnes of grains, declared the General Director of JSC UGC, Dmitry Sergeev, on April 29.

As of April 28, the company already shipped nearly 2.35 mln tonnes of grains on foreign markets, at the sum of 31 bln RUR.

At the same time, in the same period last agricultural season the exports reached a little more than 1.2 mln tonnes of grains. In 2019/20 MY, the geography of deliveries covered more than 15 countries. In particular, Egypt, Sudan, Turkey, Iran and Bangladesh were the largest buyers, said D.Sergeev.

According to him, the company considered the significant increase in the share of direct deliveries to various national importers such as the General Authority For Supply Commodities (GASC) of Egypt and the Turkish Grain Board (TMO), as the important achievement in the current season.

If in 2018/19 MY, their share totaled 7%, then in the current season it increased to 38%, or nearly 850 thsd tonnes. It allowed reducing the sales volumes through international traders. In addition, in 2019 for the first time UGC performed settlements for all tenders for the supply of grains to Turkey in Russian rubles, the General Director added.

As of the export plans for the remaining period of the season, he noted that in May-June period UGC will export another 0.3 mln tonnes of grains.

Thus, in the current season the export volumes should exceed 2.5 mln tonnes, or nearly 500 mln USD in monetary terms, D.Sergeev said.