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.
Discover more about аgri market developments at the 11 International Conference BLACK SEA OIL TRADE on September 23 in Bucharest! Join agribusiness professionals from 25+ countries for a powerful start of the oilseed season!
Read also
The Counterparty Is Trying to Avoid Fulfilling the Contract. What Should You Do?
Russia’s lurking grain industry crisis
China extends Canadian canola probe until March 2026
US agricultural sales to increase by $8 bln following agreement with Japan
China’s soybean stocks hit record high amid trade war with US
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon