February 16, 2007

Russian Grain Union initiates creating Black Sea grain pool

The Russian Grain Union (RGU), which unites Russia's grain trading companies, has initiated the creation of the Black Sea grain pool, which could unite grain producers from Ukraine, Russia, Kazakhstan and other countries in the Black Sea region.

RGU president Arkiadiy Zlochevskiy said that the three main players on the Black Sea region's grain market should form the basis of the pool, along with Hungary, Bulgaria, Romania and others.