The Russian Union of Grain Exporters has become a member of the International Grain Trade Coalition (IGTC).
According to Deputy Head of the Russian Ministry of Agriculture Oksana Lut, selling grain outside the country is of strategic importance, and thanks to membership in the coalition, domestic traders will be able to respond more effectively to the demands of the global market. It will also strengthen the country's position on the global grain market.
According to Eduard Zernin, Board Chairman of the Union, in about one year the union consolidated the largest suppliers of Russian grain, who are competitors on foreign markets and represent the interests of the country and Russian farmers.
At present the IGTC is comprised of non-profit-making associations in the sphere of foreign trade in grain, oilseeds, pulses and derived products.
The main aim of the coalition is to create a favorable conjuncture and uninterrupted sales on the world market. The union cooperates both with private business and state-owned enterprises, whose products are also exported.
The Russian Grain Exporters' Union appeared in spring last year and was founded by the largest market participants such as the United Grain Company, RIF Trading House and Aston Company. A total of 24 exporters are included here.
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: Ksenia Gustova