March 31, 2009
Russian grain firm to boost grain exports to Middle East
Russia grain firm Artis-Agro Ltd. plans to export 25-percent more grain to the Middle East this year, as lower prices fuel demand, said the company's export manager on Monday (Mar 30).
Exports this year should reach 400,000 tonnes compared to 300,000 tonnes last year, said export manager Maxim Chernikov. Prices have decreased therefore the Middle East is trying to buy as much as possible, he said.
About 45 percent of the exports would go to Egypt and about 25 percent to Turkey, with wheat accounting for nearly all grain exports, he said.
Russia's grain shipments are expected to increase to a record this year on a large harvest and a lower rouble, which makes the grain more attractive overseas.
Egypt procures most of its wheat from Russia.
