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Russian firm eyes selling grains to Egypt

Russian firm eyes selling grains to Egypt
UGC exported nearly 1.1 million of wheat in marketing season 2018/2019

Cairo – Mubasher: Russia’s United Grain Company (UGC) plans to expand its grain exports by selling to Egypt, the largest wheat importer in the world, Reuters reported.

UGC’s Swiss trading arm, Grain Export SA, took part but did not win Egypt’s wheat tender held on Tuesday by the General Authority for Supply Commodities (GASC).

“Since August this year, the company has been actively participating in tenders as part of the development of export sales. The Egyptian market is one of the priority markets,” the Russian state-controlled grain trader said in a statement to Reuters.

The most populous Arab nation purchased 230,000 tonnes of Russian wheat, 60,000 tonnes of French wheat, and 60,000 tonnes of Ukrainian wheat. Shipment is expected to be between 1-10 October.

During the marketing season ended 30 June, the Russian grain trader UGC exported nearly 1.1 million of wheat, out of the total 35.2 million tonnes exported by Russia.