MOSCOW, RUSSIA — RIF, the Russian grain office of Glencore, Aston and a subsidiary of United Grain Co., have signed a memorandum creating the Russian Union of Grain Exporters, according to Reuters.
The news agency said the creation of the new grain exporters’ union signals a sign of tightening control by Russian officials of grain exports.
“Its creation will help to improve the coordination of grain exporters among themselves and with government authorities,” the founders said in a statement reviewed by Reuters.
According to Reuters, Eduard Zernin, deputy chief executive of the UGC, has been named executive director of the new association.
In late February, Russia’s Agriculture Ministry dismissed media reports that it had set quotas on exports for traders, adding that it forecasts grains exports to reach 42 million tonnes in 2018-19, according to Reuters.
Russia exported 36 million tonnes of grain in 2017-18. Russia is the world’s top wheat exporter and is expected to ship out 37 million tonnes in 2018-19.