SALIC wants to act as a “guide” for Russian grain on the global market
SALIC (Saudi Agricultural and Livestock Investment Company) is exploring investment opportunities in Russia, but it sees greater value in promoting Russian wheat on global markets, the company’s CEO Suleiman Al-Rumai said on Friday at a grain conference in Sochi, Reuters reported.
“We are in serious talks on individual projects. For us, it’s a matter of time,” Al-Rumai said.
He noted that Russia accounts for about 50% of Saudi Arabia’s wheat imports, which “indicates the high competitiveness of Russian companies.” He said that with SALIC’s support, Russian suppliers could more actively enter the Middle East and Africa.
“I believe that we will bring more benefit [to Russia] by being the leader of its grain on the global market,” he said.
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