Saudi Press

Saudi Arabia and the world
Sunday, Jun 01, 2025

Beyond COVID, Russia's state grain trader UGC eyes Algeria and Iraq

Beyond COVID, Russia's state grain trader UGC eyes Algeria and Iraq

controlled grain trader United Grain Company, which has transformed itself into a big exporter within a year, is eyeing trade with Algeria and aiming to boost sales to Bangladesh while maintaining sales to Egypt’s state buyer this season, it said.
Its strategy signals tougher competition for foreign and local veterans of Russian grain trade as UGC’s co-owner, state-controlled bank VTB, has also become a large grain exporter.

“Export of grain is not so much a commercial story as a task of state importance,” UGC said in emailed answers to Reuters’ questions.

Russia, one of the world’s largest wheat exporters with Turkey, Egypt and Bangladesh its top buyers, competes with the United States, France and Canada. President Vladimir Putin wants to boost agriculture exports significantly.

UGC has had the competitive advantage – access to export infrastructure – for years as it owns a grain terminal in Russia’s part of the Black Sea. But its exports were modest until its Swiss trading firm Grain Export became active at tenders of Egypt’s state-run GASC a year ago.

“We intend to continue to participate in GASC tenders and expect to maintain our leading position,” UGC said. Its exports doubled to 2.7 million tonnes in the 2019/20 season, which ended on June 30.

UGC also said that it would supply Russian wheat to Jordan’s state grain buyer for the first time in five years. In June, Grain Export sold 60,000 tonnes of wheat to Jordan. The origin for shipment in the second half of October is optional, but UGC said it would come from Russia.

Algeria and Iraq remain the last globally important wheat markets which are not buying Russian wheat due to quality concerns.

The novel coronavirus has slowed down negotiations about the opening of these two markets to Russian-origin grain, but UGC hopes that there will be progress once the pandemic ends, it said.
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
OPEC+ Agrees to Increase Oil Output for Third Consecutive Month
Turkey Detains Istanbul Officials Amid Anti-Corruption Crackdown
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
EU Central Bank Pushes to Replace US Dollar with Euro as World’s Main Currency
European and Arab Ministers Convene in Madrid to Address Gaza Conflict
U.S. Health Secretary Ends Select COVID-19 Vaccine Recommendations
Trump Warns Putin Is 'Playing with Fire' Amid Escalating Ukraine Conflict
India and Pakistan Engage Trump-Linked Lobbyists to Influence U.S. Policy
U.S. Halts New Student Visa Interviews Amid Enhanced Security Measures
Trump Administration Cancels $100 Million in Federal Contracts with Harvard
SpaceX Starship Test Flight Ends in Failure, Mars Mission Timeline Uncertain
King Charles Affirms Canadian Sovereignty Amid U.S. Statehood Pressure
Iranian Revolutionary Guard Founder Warns Against Trusting Regime in Nuclear Talks
UAE Offers Free ChatGPT Plus Subscriptions to Citizens
Lebanon Initiates Plan to Disarm Palestinian Factions
Iran and U.S. Make Limited Progress in Nuclear Talks
The Daily Debate: The Fall of the Dollar — Strategic Reset or Economic Self-Destruction?
Trump Administration's Tariff Policies and Dollar Strategy Spark Global Economic Debate
OpenAI Acquires Jony Ive’s Startup for $6.5 Billion to Build a Revolutionary “Third Core Device”
Turkey Weighs Citizens in Public as Erdoğan Launches National Slimming Campaign
Saudi-Spanish Business Forum Commences in Riyadh
Saudi Arabia and Spain Sign MoU to Boost SME Sectors
UK Suspends Trade Talks with Israel Amid Gaza Offensive
Iran and U.S. Set for Fifth Round of Nuclear Talks Amid Rising Tensions
Russia Expands Military Presence Near Finland Amid Rising Tensions
Indian Scholar Arrested in Crackdown Over Pakistan Conflict Commentary
Israel Eases Gaza Blockade Amid Internal Dispute Over Military Strategy
President Biden’s announcement of advanced prostate cancer sparked public sympathy—but behind closed doors, Democrats are in panic
A Chinese company made solar tiles that look way nicer than regular panels!
Indian jet shootdown: the all-robot legion behind China’s PL-15E missiles
The Chinese Dragon: The True Winner in the India-Pakistan Clash
Australia's Venomous Creatures Contribute to Life-Saving Antivenom Programme
The Spanish Were Right: Long Working Hours Harm Brain Function
Did Former FBI Director Call for Violence Against Trump? Instagram Post Sparks Uproar
US and UAE Partner to Develop Massive AI Data Center Complex
Apple's $95 Million Siri Settlement: Eligible Users Have Until July 2 to File Claims
US and UAE Reach Preliminary Agreement on Nvidia AI Chip Imports
President Trump and Elon Musk Welcomed by Emir of Qatar Sheikh Tamim with Cybertruck Convoy
Strong Warning Issued: Do Not Use General Chatbots for Medical, Legal, or Educational Guidance
Saudi Arabia Emerges as Global Tech Magnet with U.S. Backing and Trump’s Visit
This was President's departure from Saudi Arabia. The Crown Prince personally escorted him back to the airport.
NVIDIA and Saudi Arabia Launch Strategic Partnership to Establish AI Centers
Trump Meets Syrian President Ahmad al-Shara in Historic Encounter
Trump takes a blow torch to the neocons and interventionists while speaking to the Saudis
US and Saudi Arabia Sign Landmark Agreements Across Multiple Sectors
Why Saudi Arabia Rolled Out a Purple Carpet for Donald Trump Instead of Red
Elon Musk Joins Trump Meeting in Saudi Arabia
Trump says it would be 'stupid' not to accept gift of Qatari plane
Quantum Computing Threatens Bitcoin Security
Michael Jordan to Serve as Analyst for NBA Games
×