Bloomberg News

Russia Understands Importer Concerns, Grain Union Expert Says

September 28, 2011

Sept. 28 (Bloomberg) -- Russian grain sellers understand importers’ concerns about the country’s reliability as a supplier following last year’s cereal-export ban, said Anna Supryadkina, a senior specialist with the Russian Grain Union.

“The export ban was a very difficult time for the Russian grain market,” Supryadkina said at the MENA Grains Summit in Istanbul yesterday. “We totally understand it’s very difficult for our partners from the MENA regions to believe us one more time,” she said of buyers in the Middle East and North Africa.

Russia resumed grain exports in July after an almost yearlong ban prompted by its worst drought in half a century. Egypt, the world’s largest wheat importer, bought its first Russian wheat cargo after the end of the ban on July 7, having earlier dropped the country from its list of approved sources.

Wheat exports from Russia may jump fourfold to 16 million tons in 2011-12 from 4 million tons in the previous season, the U.S. Department of Agriculture estimates, which would make the country the world’s fourth-largest exporter of the grain behind the U.S., Australia and Canada.

“Our main advantage is always the price,” Supryadkina said. “The message from our government now is, we are open for export. If there’s an agreement, we will fulfil our obligations, for sure.”

--Editors: John Deane, Alastair Reed

To contact the reporter on this story: Rudy Ruitenberg in Paris at rruitenberg@bloomberg.net.

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net.


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