Gemcorp Plans to Tap Black Sea Grains to Feed Locust-Hit Africa
- Company sold 2 million tons of grains so far this season
- Gemcorp recently hired grain-industry veteran Christian Joerg
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After wrapping up its first year trading Black Sea and Argentinian grain, Gemcorp Group plans to boost sales to Africa and the Middle East, where locust plagues have hurt crops.
The company sold about 2 million tons of grain -- mostly wheat -- to the region so far this season and provided finance for some of the cargoes, about half of which came from Russia. It has agreed to supply 200,000 tons of wheat to Ethiopia in the coming months and plans to mostly use Russian and Ukrainian grain from the upcoming harvest, it said.