United Grain Company: to export 630’000 tonnes of grains

Moscow / RU. (ami) The United Grain Company during the period of the beginning of year to August 15, 2010 exported about 630 thousand tonnes of grains under the export and humanitarian contracts. The largest volumes were exported during the first half of August – 175,6 thousand tonnes. Egypt (167’000 tonnes) was the main buyer of Russian grain on FOB Novorossiysk terms. Besides Israel and Albania purchased two parties of grain through the Azov port, announced the press-service of the United Grain Company.

In July the United Grain Company exported 56,8 thousand tonnes of feed grain as humanitarian supply to the Intervention Fund of Mongolia, which suffered from the frosts last year. Besides the Company supplied 100 thousand tonnes of milling wheat from the stocks of the State Intervention Fund to Cuba in May-June.

In July the country supplied 151,5 thousand tonnes to Saudi Arabia, Egypt, Yemen. In June the company exported 65,5 thousand tonnes of wheat and barley. Saudi Arabia, Jordan and Egypt were the buyer of the whole volume. In May 2010 the United Grain company supplied the first commercial parties of grain abroad, Egypt and Jordan purchased 81,7 thousand tonnes of milling wheat.

According to the Government Decree of the Russian Federation, the country enforced grains and other grain agricultural products export ban from August 15 to December 31, 2010. The Government passed the law due to the unfavourable weather conditions, which caused grains crop perish throughout the regions of the country.

The United Grain Company is a Russian State agent for making purchasing and commodity interventions on grain market (source: agrimarket.info).