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
BHP selects seven companies to accelerate copper and nickel exploration
(Posted on 23/01/23)BHP Xplor, an accelerator programme introduced by BHP in August 2022, has announced its first cohort... Read more
Trafigura makes carbon removal commitment as part of First Movers Coalition
(Posted on 16/01/23)Trafigura Group Ptd Ltd., a market leader in the global commodities industry, has made a public carbon... Read more
Hefner assumes USGC global trade position in Washington
(Posted on 10/01/23)Jace Hefner has joined the U.S. Grains Council (USGC) in its Washington, D.C., headquarters as the new... Read more
Cargill announces CFO transition
(Posted on 10/01/23)Cargill has announced that Jamie Miller will step down as Chief Financial Officer to accept an opportunity... Read more
Adbri extends supply contract with ICL
(Posted on 10/01/23)Adbri Limited has announced that it has extended its cementitious materials supply arrangement with... Read more
Dana Steel to replace imported raw materials with ‘Made in UAE’ supply
(Posted on 04/01/23)Khalifa Economic Zones Abu Dhabi – KEZAD Group, the integrated trade, logistics, and industrial... Read more
GrainCorp to boost digital connectivity in the bush
(Posted on 23/12/22)Australian agribusiness GrainCorp is co-leading a $12 million investment round into rural connectivity... Read more
BHP and OZ Minerals extend exclusivity period
(Posted on 20/12/22)BHP has provided an update to its announcement on 18 November 2022 that confirmed BHP had entered into... Read more
Kaisa Hietala to join Rio Tinto Board
(Posted on 20/12/22)Rio Tinto has appointed Kaisa Hietala as a non-executive director. Ms Hietala, a Finnish citizen, will... Read more
Bulk minerals volumes up 10% as Trafigura posts strong results
(Posted on 13/12/22)Trafigura Group Pte Ltd, a market leader in the global commodities industry, has released its results... Read more
