Russia’s Novorossiysk to Export 1.2 Million Tons of Grain

Russia’s Novorossiysk terminal will export 1.2 million metric tons of grain in the first quarter, according to United Grain Co., the state grain trader and owner of a controlling stake in the facility.

The terminal exported more than 2.2 million tons of grain from the marketing year’s start on July 1 and through Dec. 31, 2011, the company said today in an e-mailed statement.

The main export destinations were Kenya, Israel, Libya, Egypt, Saudi Arabia, Spain, Jordan, Iraq and Yemen, it said. More than 50,000 tons of grain were shipped as humanitarian aid to North Korea and Nicaragua.

United Grain’s terminal is one of two grain exporting facilities in the Black Sea port of Novorossiysk. The other terminal belongs to OAO Novorossiysk Commercial Sea Port (NMTP).

United Grain said it plans to expand the terminal’s grain handling capacity to at least 5 million tons a year by 2014 from 4.5 million tons. Last season, most of which was covered by a grain export ban after a severe drought in Russia, the terminal exported 547,024 tons. In the previous season, about 3.4 million tons were sent, according to the statement.

To contact the reporter on this story: Marina Sysoyeva in Moscow at msysoyeva@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net

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