Arab Finance: Egypt is reviewing plans to establish a regional logistics hub for grain trading and storage at its ports, in cooperation with Russia, Minister of Supply and Internal Trade Sherif Farouk announced on the sidelines of the Russian Grain Forum 2026 in Sochi.

This came during talks with Dmitry Sergeev, CEO of the United Grain Company (OZK) and Chairman of the Russian Union of Grain Exporters and Producers, on expanding cooperation in grain trade between the two countries.

Both sides explored mechanisms to secure long-term supply contracts for Russian wheat shipments to anchor the stability of Egypt's supply chains and bolster the country’s reserves of essential commodities amid ongoing global market volatility.

The meeting also addressed joint investment opportunities in silo projects, grain collection centers, and storage facilities.

The discussions were held under the directives from the political leadership in both countries to enhance economic cooperation, diversify supply sources, and develop a storage and transportation network.

For his part, Sergeev highlighted the strategic importance of the Egyptian market as the world’s largest wheat importer and a key destination for Russian grain exports.

In April, Russian President Vladimir Putin unveiled plans to establish a grain and energy hub in Egypt, affirming his government’s commitment to securing food product supplies, particularly grains, to the country.