Louis Dreyfus will stop deliveries of grain from Russia from July 1
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The Ministry of Agriculture of the Russian Federation received a notification from the Russian subsidiary of the world’s largest trader Louis Dreyfus Company (LDC) – Louis Dreyfus Vostok Company – about the termination of grain exports from Russia from July 1, 2023. On the plans of the grain trader to leave the Russian market at the end of March reported sources “b”. The Ministry of Agriculture emphasized that the departure of foreign grain traders would not affect the volume of Russian food exports.
“Currently, the company is studying the possibility of transferring the existing Russian business and grain assets to new owners,” the press service of the Ministry of Agriculture said (quoted by TASS). Louis Dreyfus owns a terminal on the Sea of Azov.
At the end of March, it became known about the decision of two other international traders – Viterra and Cargill – to reduce business in Russia. According to Kommersant’s information, Viterra may sell a stake in the Taman terminal, which it owns jointly with Demetra-Holding, a subsidiary of Viterra Rus and a terminal in Rostov-on-Don may be transferred to management.
The Azov LDC terminal was built in 2017 and became the first own facility of a trader in the Russian Federation. LDC mainly exports wheat, barley and corn from Russia. The volume of capacities for storing products within the country is about 900 thousand tons. The number of employees in Russia is approximately 650 people.
Read more about the largest grain exporters in the material “Kommersant” “Suppliers overloaded the grain”.
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