Russia’s Steppe to boost grain exports
(Posted on 03/09/18)
Russian agriculture holding company Steppe plans to ramp up grain exports sharply this season, part of its bid to become one of top five traders of Russian grain by 2020, the company said in a statement.
Steppe, part of Russian business conglomerate Sistema , will also seek to join the supplier list of Egypt’s state-run General Authority for Supply Commodities (GASC).
Egypt is the world’s top wheat importer and the largest buyer of Russian wheat. Russia itself is one of the world’s largest wheat exporters, though it faces a fall in its grain crop this year after a record harvest in 2017
Steppe, which harvested a record grain crop of 1.4 million tonnes in 2017, produces grain, dairy, fruit and vegetables on 380,000 hectares in Russia’s south. Sistema has previously said it could take the company public in 2020.
It exported 457,000 tonnes of grain, including 60,000 tonnes it purchased from other producers, in the 2017/18 marketing season which ended on June 30. Russia exported 52 million tonnes of grain in that season.
It plans to ramp up exports to 2.1 million tonnes of grain in the current 2018/19 season, including 1.4 million tonnes of other companies’ crops and 700,000 tonnes of its own production, it said in the statement. Exports will be via Steppe Trading SA, the branch it created in Switzerland in 2018.
Steppe is seeking to expand its export activities at a time when competition for access to grain shipping infrastructure is high, with Russia’s ports busy with the new harvest after running at maximum capacity during the 2017 record crop.
To address this, the company has established a relationship with Novorossiysk Grain Terminal, co-owned by Novorossiysk Commercial Sea Port, and another terminal – KSK, it said in its statement.
Russia’s Alfa bank is helping it to finance grain operations, it added.
Latest News
Glencore results reflect trade uncertainty
(Posted on 18/02/20)Glencore’s Chief Executive Officer, Ivan Glasenberg, commented: “Our performance in 2019... Read more
IFA conference champions sustainability
(Posted on 18/02/20)From February 3rd to 7th, the International Fertilizer Association (IFA) welcomed 170 leaders from the... Read more
USGC plan trade strategy
(Posted on 14/02/20)Members of the U.S. Grains Council (USGC) arrived in Tampa, Fla., for the organization’s winter... Read more
Bühler reports good performance
(Posted on 14/02/20)In 2019, Bühler delivered good performance at Group level, increasing the EBIT margin to 7.6% (... Read more
Tomakomai CCS demonstration
(Posted on 13/02/20)The World Coal Association (WCA) have been invited to visit the Tomakomai CCS Demonstration Centre in... Read more
Rusal’s new Japan director
(Posted on 13/02/20)RUSAL, one of the world’s major producers of aluminium, has appointed Ayumi Murakami as Representative... Read more
Rusal’s eco-friendly investment
(Posted on 02/02/20)Rusal, one of the world’s largest aluminium producers, has invested approximately 600 million... Read more
Cleveland-Cliffs and AK Steel merger advances
(Posted on 31/01/20)Cleveland-Cliffs Inc., the largest and oldest independent iron ore mining company in the United States... Read more
First for SSY Futures
(Posted on 31/01/20)SSY Futures Ltd is pleased to announce that it has arranged the first trade in Mid-Western Aluminium... Read more
CDP recognises ArcelorMittal
(Posted on 31/01/20)ArcelorMittal has been recognised by CDP for its leadership on corporate transparency and action on... Read more
