Russian farm operator to export grains

Russian farm operator Black Earth Farming Ltd. plans to start exporting grain soon, according to Bloomberg on October 22.

Production will expand by about nine percent to more than 500,000 tonnes this year, said chief financial officer Michael Shneyderman.

He said being a major producer, it is no longer possible to sell grain effectively in the local markets.

Black Earth is also expected to sign a memorandum with a Japanese company in November for grain exports, said Zorigto Sakhanov, chairman of Agro-invest, Black Earth's Russian unit.

The Asian investors may also build a grain terminal on the Sea of Azov in southern Russia, he said.