Global grain traders Cargill, Viterra, Louis Dreyfus have refused to supply Russian grain and are leaving the market of the invader country. In addition, the companies began working on the issue of transferring their business to new owners in March, the Ministry of Agriculture reports.
According to Dmitry Rylko, CEO of the Russian Institute of Agricultural Market Conditions, the companies’ withdrawal could significantly affect grain shipments through the Black Sea, where their total share was about 20%, and they shipped about 13% in the port of Kavkaz.
One of the CEOs of a Russian company said that the market was supposedly ready for the entry of global grain traders. He estimates the share of companies in Russian grain exports at 16%.
Background of the companies
Viterra is a Canadian grain processing business, the largest grain processor in the country, with historical roots in prairie grain processing cooperatives, including the iconic Saskatchewan Wheat Pool.
Cargill is one of the world’s largest agribusiness and trading companies. It produces and sells grain, oil, sugar, cocoa, meat, and biofuels. It operates in 70 countries and trades in 125 countries. The company employs 155 thousand people.
Louis Dreyfus is an international agricultural trading company. It is registered in the Netherlands. Louis Dreyfus Company has offices in more than 100 countries. It is one of the largest suppliers of agricultural products in the world, and is also engaged in trade, production and processing.