Russia and UAE Explore Fertiliser Supply Boost, BRICS Grain Exchange
Russia's Plans for Fertiliser Exports and BRICS Grain Exchange
Expanding Food and Fertiliser Exports to the UAE
MOSCOW, April 29 (Reuters) - Russia wants to boost its food and fertiliser exports to the United Arab Emirates and jointly develop a grain exchange servicing trade between members of the BRICS group of developing nations, its deputy prime minister said on Wednesday.
Russian Companies' Interest in the UAE Market
"Domestic companies are interested in further increasing exports to the UAE market not only of food products but also of mineral fertilisers," Dmitry Patrushev said during a meeting with UAE Vice President Sheikh Mansour bin Zayed.
The remarks were included in a statement posted on the Russian government's website.
Global Fertiliser Trade and Geopolitical Challenges
Russia's Role in the Fertiliser Market
Russia accounts for about one-fifth of the global fertiliser trade, which has been disrupted by restricted traffic through the Strait of Hormuz and the war in the Middle East.
BRICS Grain Exchange Initiative
Moscow's Push for a BRICS Grain Exchange
It is also the world's largest grain exporter. And Moscow has been pushing for a grain exchange that would facilitate trade between BRICS members, which include major agricultural producers and consumers such as China, Brazil, India, Egypt and South Africa.
Key BRICS Members Involved
(Reporting by Gleb Bryanski; Editing by Joe Bavier)
