Japan's Marubeni to import more Russian feed wheat
Japanese trading house Marubeni Corp signed a deal on Monday (Apr 26) with Russian grains consolidator Amurzerno and port logistics firm Fetexim to import 400,000 tonnes of feed wheat in the next three to five years.
"The deal provides Marubeni an exclusive right to handle Amurzerno's wheat exports from Russia into Japan," a Marubeni official said.
Marubeni first imported 50,000 tonnes of feed wheat from Russia in 2009 and now aims to expand the shipments, the official said.
"Through the agreement, we will be able to propose that Japanese flour milling companies visit production fields in Russia and give advice on quality," the official said.
Currently, all of the grains Marubeni imports are for Japan, but the official said the company may seek to ship the Russian grains to other parts of Asia in the future.
Japan buys about five million tonnes of milling wheat a year from abroad, which accounts for almost 90 percent of local consumption.
Japanese trading firms are stepping up efforts to secure grain supplies, aiming to use the sheer volume they trade in the global market as a bargaining tool to secure grain for Japan, as supplies are expected to tighten due to insatiable demand in China and emerging economies.