Russia's Top Grain Traders Create a New Union of Grain Exporters

Russia's Top Grain Traders Create a New Union of Grain Exporters

23 April 2019

Russia's Top Grain Traders Create a New Union of Grain Exporters

Today, on April 23, 2019, ASTON Company, together with Russian traders, including Glencore Agro IGC LLC, United Grain Company Yug LLC (OZK-Yug LLC) and Trading House RIF LLC have signed a memorandum on the creation of the Union of Grain Exporters.

The main purpose of the Union will be the promotion of Russian grain and legumes, both raw and processed, on international markets. Its creation would contribute to better coordination among grain exporters and between them and government authorities. Among other things, the organization plans to engage in legislative activities, identify and implement the best international practices in assuring and confirming the quality of grain and its processed products, assist in the development of specialized laboratories and expert organizations, the use of digital technology and information systems.

Eduard Zernin, Deputy General Director of the United Grain Company, has been appointed Executive Director of the Union.

"An effective union of grain exporters is indispensable for the market, since grain remains Russia's most exported agricultural product. I am confident that the Union will help to bring large stakeholders together, contribute to product quality, development and compliance with common trade rules and regulations, promote grain to world markets and boost exports,” says Dmitry Lysenko, Deputy General Director of ASTON Company.

The Ministry of Agriculture of Russia initiated the creation of a new union of grain exporters this February. "We need to understand the general trends, the common demands of the market, and this is why it is necessary to form a strong union that will represent the interests of the top exporters. The union will be created closer to April of this year," reported the Ministry citing the Minister Dmitry Patrushev. According to the Ministry's projection, the Russian Federation will export 41 million tons of grain, including 37 million tons of wheat, in this agricultural year (July 2019-June 2020).

Крупнейшие трейдеры РФ создают новый Союз экспортеров зерна.jpg