"The agreement is for the supply of 160 thousand tonnes of Russian wheat to Nicaragua. The parties are also exploring the possibility of regular exports of grain from Russia to the Nicaraguan market," stated the UGC, a state-owned company and one of the top five Russian exporters of grain.
Russia was the world's fifth highest wheat exporter in 2014, and exported 22.1 million tonnes of wheat, an increase of 60.5 percent on the previous year and making Russia the third fastest growing exporter after India and Bulgaria.
As well as Nicaragua, other nations with a delegation at the forum include China, Japan, India, Finland and Turkey.
On the eve of the conference on Wednesday, the event organizers said that in addition to international delegations, 843 foreign representatives of 450 companies had confirmed their attendance at the forum, where Russia expects to sign around 70 agreements with government and commercial representatives.