Hey, grain traders, take a look for the above
Bloomberg artcle: “-- OAO United Grain Co.,
the Russian grain trader created by President Dmitry Medvedev, won’t
seek to monopolize exports from the country, Chief Executive Officer
Sergei Levin said. The state-run company plans
to support construction of new ports and storage silos in Russia that
would “unlock the country’s grain export potential,” Levin said at a
conference in Moscow today. United Grain aims to emerge as the local
market leader as of 2013, he said without elaborating.
“Our strategy is to become the leading player,
not the monopoly on the Russian grain market,” Levin said. “We will seek
to partner with existing market operators and traders.”
Russia set a goal in June of doubling grain
exports to as much as 50 million metric tons within 10 to 15 years. The
country, whose storage and shipping facilities handle just 40 percent of
its annual crop volume, is building southern river ports and adding a
terminal on the Black Sea next year. Ports on
the Black and Baltic seas need more grain storage and handling capacity,
and a new port is necessary in the Far East to boost exports, according
to Levin. United Grain has a three-step
strategy that begins with “establishing a prominent position” in Russia
over the next year, Levin said. It will buy and sell grain on the
state’s behalf to regulate prices and provide infrastructure for
partners, he said. The government has set a
target of attracting private capital into the industry as a way of
financing some of United Grain’s plans, Levin said.”.
Hope this article will help you.
My best. Nicola
Antonucci Tarolla |