Russia, Libya Sign Wheat Supply Deal

Libya has signed an agreement of intent with Russia on the supply of Russian wheat, the head of the contact group on intra-Libyan settlement Lev Dengov said last week, according to the Lybia Observer.

“The planned estimated volume of Russian wheat supplies to Libya is one million tons annually,” Dengov said.

The official also noted that Moscow has been working for a long time with the Libyan National Oil Corporation, carrying out joint projects “in order to help the war-torn country to restore its economy.”

The statement came during the Russia-Africa summit and business forum, which was held last week in Russia’s Sochi. Over 40 African nations were represented at the event by heads of state or government, while 11 have sent their vice presidents, foreign ministers or envoys.

Russia supplied a total of 329,100 tons of wheat to Libya in the previous marketing season. 

Export prices for Russian wheat rose early this month with futures rising in Chicago and Paris, after Egypt’s state grains buyer GASC agreed to buy 240,000 tonnes of Russian wheat. Egypt is usually the largest buyer of Russian wheat.