AGL 22.94 Increased By ▲ 0.91 (4.13%)
AIRLINK 111.29 Increased By ▲ 6.49 (6.19%)
BOP 5.25 Increased By ▲ 0.03 (0.57%)
CNERGY 3.72 Decreased By ▼ -0.01 (-0.27%)
DCL 7.99 Increased By ▲ 0.29 (3.77%)
DFML 40.27 Increased By ▲ 3.87 (10.63%)
DGKC 88.00 Increased By ▲ 0.95 (1.09%)
FCCL 21.99 Increased By ▲ 0.01 (0.05%)
FFBL 42.20 Increased By ▲ 1.24 (3.03%)
FFL 8.55 Decreased By ▼ -0.10 (-1.16%)
HUBC 153.29 Increased By ▲ 3.04 (2.02%)
HUMNL 10.45 Increased By ▲ 0.14 (1.36%)
KEL 4.50 Increased By ▲ 0.05 (1.12%)
KOSM 3.85 Increased By ▲ 0.06 (1.58%)
MLCF 36.80 Decreased By ▼ -0.10 (-0.27%)
NBP 47.99 Increased By ▲ 0.06 (0.13%)
OGDC 131.80 Increased By ▲ 2.10 (1.62%)
PAEL 26.15 Decreased By ▼ -0.34 (-1.28%)
PIBTL 6.03 Increased By ▲ 0.05 (0.84%)
PPL 115.50 Increased By ▲ 1.16 (1.01%)
PRL 22.60 No Change ▼ 0.00 (0%)
PTC 12.58 Increased By ▲ 0.06 (0.48%)
SEARL 55.69 Increased By ▲ 1.49 (2.75%)
TELE 7.20 Increased By ▲ 0.10 (1.41%)
TOMCL 37.00 Increased By ▲ 1.10 (3.06%)
TPLP 7.85 Decreased By ▼ -0.30 (-3.68%)
TREET 15.30 Decreased By ▼ -0.20 (-1.29%)
TRG 54.55 Increased By ▲ 0.54 (1%)
UNITY 31.86 Decreased By ▼ -0.14 (-0.44%)
WTL 1.17 Decreased By ▼ -0.02 (-1.68%)
BR100 8,343 Increased By 52.7 (0.64%)
BR30 26,335 Increased By 323.4 (1.24%)
KSE100 78,987 Increased By 447.9 (0.57%)
KSE30 25,365 Increased By 156.8 (0.62%)
Markets

Russia may supply up to 1mn tonnes of wheat to Algeria in new season

  • Russia, one of the world's largest wheat exporters, sent 28,000 tonnes of wheat to Algeria - the first such shipment in more than four years - earlier this week.
  • Traders are also waiting to see how the Russian cargo will be accepted by Algeria.
Published June 22, 2021

MOSCOW: Russia may boost supplies to Algeria to up to 1 million tonnes of wheat in the 2021/22 marketing season, which starts on July 1, Eduard Zernin, who heads the Russian union of grain exporters, told Reuters on Tuesday.

Russia, one of the world's largest wheat exporters, sent 28,000 tonnes of wheat to Algeria - the first such shipment in more than four years - earlier this week.

"Even though this is the only shipment (of Russian wheat) to Algeria this season, we are confident that we will significantly increase export volumes to the country, which is one of the world's top 10 grain buyers, in the 2021/2022 season," Zernin said.

Moscow has been lobbying for access to the Algerian market, one of the few major importers to which it had no access until October, when Algeria relaxed its terms regarding bug damage, making it possible to offer Russian wheat with higher protein.

Traders see Russian supplies as a long-term threat to the dominance of wheat from France and other European Union countries in Algeria's massive import programme.

Traders are also waiting to see how the Russian cargo will be accepted by Algeria.

In the new season, Russia faces tougher competition with the European Union for supplies to their customers in Africa and the Middle East due to good prospects for this year's crop.

Comments

Comments are closed.