Egyptian Minister of Supply and Internal Trade Sherif Farouk delivered a speech during the opening session of the Fifth Russian Grain Forum, held in the Russian city of Sochi from May 20 to 23, 2026. In his Speech, Farouk said that Egypt is studying the establishment of an integrated global center for grains and edible oils, which aims to transform Egypt into a regional center for trading, storing, manufacturing and re-exporting grains and food commodities, taking advantage of its unique geographical location, and the significant development it is witnessing in infrastructure, ports, transport networks and logistics services.
The Minister of Supply and Internal Trade Sherif Farouk explained that the project reflects a comprehensive vision that includes the establishment of modern silos, advanced transportation and handling facilities, value-added food industries, and integrated logistics centers.
According to the Minister, these measures would improve the efficiency of regional and international supply chains. Sherif Farouk also highlighted significant opportunities for cooperation with Russia in grain trade, logistics, storage and handling technologies, and investment partnerships related to the project.
The minister noted that the forum was taking place at a critical time amid rapidly evolving global challenges related to supply chains, market volatility, and their impact on food security. Sherif Farouk explained that cooperation and coordination between grain-producing and importing countries has become a strategic necessity to ensure market stability and the sustainability of food supplies.
Sherif Farouk emphasized Egypt’s pride in its long-standing historical and strategic relations with the Russia, which have witnessed significant growth in recent years across multiple sectors. He attributed this progress to the shared commitment of Abdel Fattah El-Sisi and his Russian counterpart Vladimir Putin on strengthening partnership and cooperation between the two countries.
Farouk noted that cooperation in food security and grain trade represents a cornerstone of the strategic partnership between Egypt and Russia, particularly given Russia’s role as one of the world’s leading grain exporters and Egypt’s position as a major market in the Middle East and Africa.
The minister reviewed the Egyptian government’s vision for cooperation in this vital sector, stressing that Egypt is not solely focused on grain imports, but also seeks to establish long-term strategic partnerships covering storage, logistics, food processing, and the development of supply chains and trade infrastructure.
In a related context, the Minister highlighted the Egyptian government’s efforts to modernize the domestic trade system and organized markets through the development of the Egyptian Commodities Exchange. He described it as a modern mechanism that enhances transparency, improves market efficiency, and develops pricing and trading systems for strategic commodities, particularly grains.
Meanwhile, the minister affirmed Egypt’s aspiration to deepen cooperation with Russia in the field of commodity exchanges and the exchange of expertise related to market regulation and the modernization of trading and settlement systems. This includes expanding the use of digital tracking and monitoring systems (Track & Trace) and accelerating the digital transformation of grain and food commodity supply chains, thereby improving trading efficiency, enhancing transparency, and strengthening the resilience of the supply system in the face of global challenges.
The minister Sherif Farouk emphasized that current global challenges demonstrate that the future of food security will depend not only on production capacity, but also on countries’ ability to develop more efficient, resilient, and sustainable systems based on modern technology, digital transformation, logistical integration, and effective international partnerships.