BLOG

Currency changes for trade between Egypt and Russia

02 March 20151 min reading
The leaders of two players of global wheat market Egypt and Russia indicated they are planning to use local currency in trade. rus Egypt is one of the primary wheat importers in the world. The country imports most of its wheat requirement from Russia. Recently interviewed in Egypt, Russian Prime Minister Vladimir Putin and Egypt President Abdulfettah el-Sisi indicated that they will use local currency instead of dollar for trade. It is unclear how this decision of these two important players in global wheat market affects the wheat market. It is known that wheat trade is one of the main topics of Putin and Sisi interview. Russian President Putin hopes to strengthen the relations with China, India, Turkey and Egypt against the economic sanctions of USA and EU. The decision of using local currency in trade is thought to be the respond of Russia to the economic sanctions of USA and EU.
Articles in News Category
14 October 20193 min reading

China opens soymeal market to Argentina

China allows the import of soymeal livestock feed from Argentina for the first time under a deal an...

04 August 20231 min reading

EGT to expand its export terminal capacity

13 September 20172 min reading

ADM modernizes flour mill in Oklahoma

Archer Daniels Midland Company (ADM) announced that it invested in a significant modernization of i...