CAIRO, EGYPT — Egypt purchased a record amount of wheat from Russia, Bloomberg reported.
The 530,000 tonne wheat tender is the largest since the 2012-13 season, according to Bloomberg records. Russia’s 2020 grain harvest is anticipated to be slightly below the country’s 2017 record harvest.
The strong harvest is expected to make Russia the world’s top wheat exporter again. The country’s exports also are expected to benefit from other countries poor grain harvests in places such as Ukraine, France and Romania, Bloomberg said.
Since early August, Egypt has not purchased any wheat outside of Russia. A trend that the Russian Grain Union believes could continue.
Alexander Korbut, vice president of the Russian Grain Union, told Bloomberg, “There’s potential for things to go on like that in the future. A very good crop is expected, and growers are increasingly interested in selling.”
