Egyptian expert reveals the size of Russia’s share in the global food market and talks about Putin’s decision

Dr. Nader Noureddin, a professor at Cairo University, described President Vladimir Putin’s announcement of supplying the world with 50 million tons of wheat and other grains as “realistic” given Russia’s market share.

“The reality is that the total wheat trade this season is 205 million tons, of which Ukrainian wheat is only about 20 million tons, or 10%,” said Nureddin, FAO General Assembly strategist and global food commodities expert. and grain markets.

He explained: “While the export capacity of Russian wheat this year, according to the US Wheat Administration, is 50 million tons, with the expectation that this volume will continue next year, and is 25% of world wheat trade . Therefore, the world should be interested in the return of Russian wheat to world markets, because it represents the largest share of world wheat exports, and not focus only on Ukrainian wheat,” he said.

In addition, according to Nur El-Din, Russian exports of yellow corn, which is important for food, animal and poultry feed, and barley, as well as about 23% of sunflower oil trade and about 25% of sunflower seed oil trade in world, according to a statement from the Institute of Food Research. World, in addition to 15% of nitrogen fertilizer exports, essential for plant life and food production and not found in agricultural soils, to be added through nitrogen chemical fertilizers periodically.

Nour El-Din, formerly an adviser to the Egyptian Minister of Supply, points out that Russia supplies world markets with about 17% of potash fertilizers, which are important for the maturation of food crops and increasing yields, in addition to about 20% of global exports of gas, which is used in production fertilizers, pesticides, growth hormones and regulators, as well as in production. Thus, reality shows that Russia is the largest financier of world markets with basic food products, as well as with food production resources from nitrogen and potash fertilizers and natural gas.

He continues: “Therefore, the world must work to expedite the return of Russian food exports immediately to world markets in order to end the global food crisis and its rising prices, which threatens to starve African and developing countries that import food from abroad. , in addition to international action to reduce the price of oil, which is about 33% of the total cost of food production in the world and doubles the price of maritime transport of food to ensure low food prices for the same, as well as limiting the use of sweet , starchy and fatty staple foods in the production of biofuels so that energy does not compete with man in his food and does not cause its price to rise, especially since high oil prices encourage countries around the world to return to biofuel production, such as Brazil, China and the United States are among the largest countries in the world in their production, as they depend on corn, wheat, beet sugar, cane and all kinds of edible oils.

Nasser Hatem

Source: RT

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