Advertisement

Commodity news

Cargill, Viterra and LDC exiting Russian grain export market

The move is expected to give Russian firms more control over shipments and grain prices.

Shipyard photo created by dashu83 - www.freepik.com
Credits: freepik

April 4, 2023


Cargill, Viterra and LDC will stop grain exports from Russia.

Cargill will take a step back by no longer handling the top wheat supplier’s grain from July, although its shipping unit will continue to carry grain from the country’s ports, Reuters reported.

“Following continued monitoring of the situation over the past year, Viterra has concluded that its activities in Russia no longer fit the long-term direction of the company,” the company said in a statement.

“Louis Dreyfus Company (LDC) will cease grain exports from Russia from July 1, 2023, as grain export challenges continue to increase in the country, and is also assessing options for the transfer to new owners of its existing Russian business and grain assets,” the company said in a statement. LDC will continue to run its operations in Russia until the process is complete, in compliance with all applicable laws and regulations.

The move is expected to give Russian firms more control over shipments and grain prices.

Ship_0 Commodity news

Black Sea grain deal extended

March 21, 2023
Haiko2 Suppliers' News

Orffa CEO steps down

May 26, 2023
HOULLIER_Clement-EPImages-2V3A9883-1-compressed-1024x683 Suppliers' News

Phosphea names new CEO

May 26, 2023
Advertisement

Latest Magazine

Job Opportunities