Russia Interested in Providing PH Wheat at Competitive Terms

Philippine Ambassador to Russia Carlos D. Sorreta (right) and United Grains Company First Deputy Director General Ivan Chepovoy discuss the possibility of Russia supplying wheat at competitive prices to the Philippines as well as investing in the flour milling industry. (Photo courtesy of V. Cara)

MOSCOW 19 February 2020 — Philippine Ambassador to Russia Carlos D. Sorreta and United Grains Company (UGC) First Deputy Director General Ivan Chepovoy discussed the possibility of Russia supplying wheat at competitive prices to the Philippines when they met at the Philippine Embassy in Moscow on 17 February 2020.

“There is a strong demand for wheat, flour, and animal feed in the Philippines, and Russia is a top producer of quality wheat.  If Russia can provide this commodity at competitive prices and help bring prices down and provide a more stable supply for the Filipino consumer, then this is all worth exploring,” Ambassador Sorreta said, adding “Russia is a major global player when it comes to wheat and already supplies flour mills in Southeast Asia.”

Also at the meeting were Embassy’s Economic Section Head Vice Consul Grace Perpetua, UGC Commercial Director Mikhail Matveenko, and External Relations Department Chief Specialist Irina Klimova.

The two officials also discussed the possibility of Russia investing in the flour mill industry in the Philippines. “We currently import flour from a third country that buys its wheat from Russia, mills it and sells the flour to us.  If we mill the wheat in the Philippines instead, we will be part of the value chain, create jobs, have better consumer prices, and also reinforce food security,” according to Ambassador Sorreta.

UGC is a Russian government majority owned company and one of Russia’s top exporters of wheat.

During the second Philippines-Russia Joint Commission on Trade and Economic Cooperation, held in Moscow on 23 August 2019, UGC expressed interest to ship grain and other food products to the Philippines. The Philippine side indicated that it will study UGC’s proposals. END

From right: External Relations Department Chief Specialist Irina Klimova, United Grains Company Commercial Director Mikhail Matveenko, United Grains Company First Deputy Director General Ivan Chepovoy, Philippine Ambassador to Russia Carlos D. Sorreta, and Embassy’s Economic Section Head Vice Consul Grace Perpetua. (Photo courtesy of V. Cara)

For more information, visit https://www.moscowpe.dfa.gov.ph, or https://www.facebook.com/PHLinRussia/ or https://twitter.com/phlinrussia.