Interfax: Louis Dreyfus announced the cessation of exports of Russian grain

Louis Dreyfus will stop exporting Russian grain from July 1, 2023. About this informed Interfax, citing a letter from Paulo Gladchuk, General Director of Luis Dreyfus Vostok Company LLC, addressed to First Deputy Minister of Agriculture Oksana Lut. The Ministry of Agriculture confirmed receipt of the letter.

“In the context of increasing difficulties in the export of grain, we hereby confirm that the LDC group will stop exporting grain from Russia from July 1, 2023,” the text of the letter says.

This is not the first trader who decides to abandon the export of Russian grain. March 30 at the Ministry of Agriculture reportedthat received a notification from Viterra to stop export activities in Russia from July 1.

On March 29, it became known that from July 1, the Russian division of the American largest grain supplier Cargill will also stop export of products from Russia. The letter clarified that all commitments that were made for the current season will be fulfilled in full by the end of June.

After these reports, the Ministry of Agriculture assured that the decision of foreign traders would not affect the export of Russian grain, all transshipment capacities would be preserved and continue to operate as usual. The ministry also noted that the Russian market is open to conscientious foreign companies whose work is aimed at developing the export opportunities of the domestic agro-industrial complex.