Egypt, the world's largest wheat importer, is considering building an 8 million tonne grain silo, and Russian companies could take part, Russian Agriculture Minister Nikolai Fyodorov said. Egypt and Russia have long discussed co-operating over the construction of the grain silo, which Cairo hopes will help it become a trading hub. The capacity though, is significantly larger than Egypt had previously planned.
"This question is being discussed now. We have requested the project parameters," Fyodorov told reporters in Cairo, where he is part of a Russian delegation led by President Vladimir Putin. Fyodorov gave no further details on the silo. Officials in Cairo have said storage capacity is vital for Egypt to make better use of its domestic wheat production and reduce its need for imports.
Egypt, the second-largest buyer of Russian wheat, has been hit by Moscow's curbs on grain exports as the Kremlin seeks to cool domestic prices amid an economic crisis. Asked about any decrease in exports to Egypt, Fyodorov said a new duty on wheat exports launched on February 1 had not affected exports in general for now. In late January, several vessels with wheat for Egypt were stuck in Russian ports due to informal curbs. Asked about whether these vessels had left, Fyodorov said: "It's a technical and small issue".