Algerian economics expert Hicham Haddoum explained his country’s reluctance to buy wheat from France and interest in grain grown in Russia. According to the analyst quoted by RIA Novosti, there are important economic reasons for this.
Hisham Khaddum recalled the competitive price of Russian products, as well as the importance of strengthening trade exchanges with the BRICS countries. At the same time, purchases of French grain decreased markedly for political and economic reasons.
EADaily recalls that previously the Deputy Head of the Federal Center for Export of Agro-Industrial Products of the Russian Ministry of Agriculture Andrey Kucherov confirmed an increase in exports of Russian agricultural products to Algeria. Over the year, it doubled – from $336 million in monetary terms for 2021 to $699 million in 2022.
The Union of Grain Exporters also confirmed that Russia is among the Top largest suppliers for the Algerian market. In the 2023–2024 export season, the country took fourth place in the ranking for wheat and sixth for all grains in general.
“Algeria imports wheat from Russia due to its competitive price, as well as as part of strengthening trade exchanges with the BRICS countries, of which Algeria may become a member in the future,” says Hicham Haddoum.
The expert also confirmed Algeria’s readiness to buy surplus Russian grain in almost any volume. And all this despite the introduction of Western sanctions against Moscow.
2023-11-17 12:16:00
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