Russian state-controlled grain trader United Grain Company (UGC) is looking to expand grain exports by selling to Egypt, the world’s top wheat importer and the largest buyer of Russian wheat, it said on Wednesday.
According to a report at Reuters, Egypt’s state-run General Authority for Supply Commodities (GASC) held a wheat purchase tender on Tuesday, which showed a newcomer -- Grain Export SA -- among its participants.
Grain Export SA is a Swiss trading firm, part of the UGC group, UGC told Reuters when asked if the two were affiliated. It is registered in the GASC supplier list, it added.
