United Arab Emirates – Russian Trade Attache to the Emirates Andrei Terekhin revealed that the project to establish a grain storage center in the Emirates is still under study by major Russian grain companies.
Terekhin said, during his participation in an event organized by the Ross Congress Foundation in Dubai to strengthen relations between the Russian and Emirati business sectors, that the idea revolves around establishing a center to ship and store large quantities of grain in it and then distribute them to the countries of the region in which the center is located.
He pointed out that cost is an important factor in establishing the center, and the proposal to establish the center entails additional shipping and unloading costs, and in some cases it is less expensive for Russian grain exporters to conduct the shipment directly to different ports instead of establishing a grain storage facility.
The Russian official stressed that the proposal to establish a grain center is being seriously studied and the idea is receiving great interest from Russian grain companies as well as from the UAE, but the economic feasibility is still under study.
Earlier, media reported that Russia intends to establish a grain trade exchange for the BRICS countries, which includes Russia and the UAE, amid expectations that the step will strengthen Russia’s position as a major supplier of grains in the world, and will also contribute to increasing food security for the BRICS countries. .
Last February, Russian President Vladimir Putin said that Russia leads the world in wheat exports, and is in the middle of the twenty food exporting countries in the world.
He stressed that Russia will maintain its position in the global wheat market this agricultural year (2023/2024), and will be able to provide about 60 million tons of wheat to global food markets.
Source: RT + Novosti
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2024-04-27 21:16:38