Russia may launch grain export exchange in 2–3 years

VLADIVOSTOK, Sep 7 (PRIME) -- Novorossiysk Grain Plant is discussing launching a special export grain exchange in two to three years, CEO Oleg Moliboga told PRIME on Thursday.

“We are discussing this project with UGC (United Grain Company), which was created to become one of the largest exporters of Russian grain. We are a part of the UGC, and we think that we will launch the project together and UGC will become a serious exporter in the prospect of two to three years,” he said.

“We are now at a stage of designing additional grain storage capacities. The Port of Novorossiysk and we discussed construction of additional mooring berths to increase shipping capacities.”

Novorossiysk Grain Terminal is one of Russia’s largest grain terminals with transshipping capacities of 3.5 million tonnes of grain a year. UGC owns 51% in the terminal.

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