Russian Agri-Firm Rusagro Eyes East Africa for Grain Supplies

Bizbooq

Bizbooq

November 04, 2024 · 1 min read
Russian Agri-Firm Rusagro Eyes East Africa for Grain Supplies

Rusagro Holding, a Russian agricultural firm, is in talks with East African countries to supply grain, potentially starting a new trade partnership and boosting regional food security. This move aims to increase the company's presence in East Africa and West Africa, with Tanzania being a key destination.

Rusagro's head of sales and trading, Mikhail Rakovetsky, revealed the company's plans during the Tanzania – Russia Business and Investment Forum. The African continent has enormous potential for grain supplies, and Rusagro plans to capitalize on this opportunity. The company is a major grain exporter, having sold 1.149 million tonnes of cereals in 2023, a 17% increase from 2022.

Russia has established itself as a reliable partner for Africa in supplying grain, solidifying its position as the world's top wheat exporter. Several African countries, including Somalia and the Central African Republic, have received significant amounts of grain from Russia. This development is expected to have a positive impact on regional food security and trade relationships.

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