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. Last Updated: 07/27/2016

Russia May Ask for Grain Credit

Russia may ask for new U.S. government credits to buy wheat, possibly through big Russian importers Exportkhleb and Roskhleboprodukt, grain sources said Monday.


"I'm sure the Russians are into the idea of discussing GSM credits," said a Western source. "I can't imagine it would not come up" during Russia-U.S. meetings in Washington this week.


Washington's GSM system provides concessional credits for exports of wheat produced in the United States.


Russia's grain import needs have been pegged at 3 million to 6 million tons, with some of that to come from traditional suppliers Ukraine and Kazakhstan.


Officials from the two import companies accompanied acting Agriculture Minister and Deputy Prime Minister Alexander Zaveryukha to Washington this week for a meeting of the U.S.- Russian Commission on Economic and Technical Cooperation.