Russian Wheat Exporter OZK Aims to Send 500k Tons a Year to UAE
16 February 2022
Russian wheat exporter OZK sees potential shipments of about 500,000 tons to the United Arab Emirates a year, company says in statement to Bloomberg News.
Russian government plans to purchase grain and sugar for its state grains fund are “a positive signal for the market, and in the future will help smooth out the impact of high world prices on the domestic market,” company said.
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OZK is considering setting up a trading house in the UAE, Interfax reported.
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New joint venture in Egypt will start this year; JV plans to supply up to 500,000 tons of wheat there.
- BLOOMBERG