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Russia's Interfax news agency reports that Russia is seriously considering setting up a sunflower oil refining plant in Egypt. The proposal was raised by Russian Deputy Prime Minister Alexei Overchuk, who led a high-level Russian delegation on a recent visit to Cairo.
Overchuk said that "agricultural cooperation between the two countries is very active," confirming that the idea of establishing a sunflower oil refining plant in Egypt is currently under consideration.
The Russian delegation, led by Overchuk, held key meetings last Tuesday with senior Egyptian officials, including Prime Minister Dr Mostafa Madbouly, Minister of Industry and Industrial Development Kamel El-Wazir, and Minister of Investment and Foreign Trade Hassan El-Khatib. The two sides also discussed cooperation in the fuel and energy sector.
Egypt is a major agricultural trading partner for Russia, with Russian agricultural exports to Egypt exceeding $3 billion in 2024, up 20% from the previous year, according to data from the Federal Centre for Agricultural Export.
Wheat accounted for the largest share of these exports at 84%, while sunflower oil made up 13% and soybean oil 2%, with dried lentils and chickpeas each accounting for less than 1%.
Russia's Agroexport company underscored Egypt's strategic importance as a key logistics and investment hub in the North Africa and Middle East region, reinforcing its role in Russian foreign trade.
Source: Aswaq Information