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.
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.