Global traders leaving the Russian market will strengthen the geopolitical influence of Russia – Bloomberg

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APK-Inform

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The officially announced leaving of the world's leading grain traders from the Russian market will strengthen the geopolitical influence of the Russian Federation and increase its profits, announced Bloomberg, on April 1, TASS reports.

According to Bloomberg experts, the exit from the Russian market of the Netherlands-based international grain trading company Viterra and the American supplier of agricultural products Cargill "increases Russia's control over global food supplies."

“Cargill and Viterra leaving mean that Russia, the world's largest wheat exporter, will gain more control over its food supply and boost profits,” – Bloomberg noted.

The agency estimates that the exit of international traders "leaves Russian grain exports largely in the hands of domestic and state-funded companies,".

“This means that it will be easier for Russia to use grain exports as an instrument of geopolitical influence,” Bloomberg states, noting that the countries of the Middle East and Africa are the main buyers of food from the Russian Federation.

We should note that on March 30, the Ministry of Agriculture of the Russian Federation announced that the grain trader Viterra Limited from July 1, 2023, stops export activities in Russia. A day earlier, the ministry said it had received notice from Cargill LLC, a subsidiary of US agricultural supplier Cargill, to stop exporting to the Russian market. In addition, on March 30, ADM announced plans to leave the Russian grain market.

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