8-month agricultural trade turnover between Russia and Egypt up 12%

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AK&M 21 September 2020 11:31

The volume of trade in agricultural products between Russia and Egypt for January-August 2020 increased by 12% YoY to $1.2 billion, Russia's Ministry of Agriculture informed following a meeting between Dmitry Patrushev, Minister of Agriculture of Russia, and Ihab Ahmed Talaat Nasr, Ambassador extraordinary and Plenipotentiary of Egypt to Russia.

The Arab Republic of Egypt is Russia's strategic partner in the mutual trade in food and agricultural products in North Africa and the Middle East. Egypt has traditionally been one of the largest importers of Russian grain. Wheat and meslin are the main items of exports of Russian grain products to Egypt.

"From January to August 2020, export supplies of Russian wheat and meslin to Egypt reached 3.5 million tonnes for a total amount of over $800 million, which is 19.7% above the result achieved for the 8-month period in 2019. While Russia accounts for about 80% of Egypt's wheat imports in the new agricultural year, we expect to strengthen the positive dynamics of Russian exports and to further increase supplies of Russian agricultural products to Egypt," Russia's Minister of Agriculture was quoted as saying in the statement.