Media Reports: Largest Grain Importer Refuses Supplies From Russia, Opting For Ukraine

The export potential of the Russian Federation has been dealt a serious blow.

Egypt, one of the largest importers of wheat in the world, refused to buy Russian grain at the latest tender, opting for supplies from Ukraine and Romania. This was reported by Dialogue.UA with a reference to Russian news agencies and the head of the Russian Grain Union Arkady Zlochevsky.

The Russian side made several proposals, but all of them were rejected by Egypt. The reason for this decision by the Egyptian authorities was the too high prices offered by the Russian Federation. Offers from the Russian Federation exceeded $245 per ton, while the winners of the tender, Ukraine and Romania, offered wheat at $238 per ton.

Egypt's refusal of Russian wheat was a serious blow to the export potential of the Russian Federation. Egypt has a population of more than 110 million people, and the country imports about 6 million tons of wheat annually. Russia has previously lost major buyers of its grain, including Saudi Arabia.

Experts note that Egypt’s refusal of Russian wheat could lead to a decrease in grain prices on the world market. The situation on the grain market remains difficult, and will develop depending on the geopolitical situation and harvest in key exporting countries.