Louis Dreyfus to stop supplying Russian grain

Source

APK-Inform

11123

Another of the world's leading grain traders - the Louis Dreyfus Company (LDC) will stop exporting grain from Russia from July 1, 2023, reported the press service of LDC on April 3.

The LDC explains its decision by the fact that "problems with the export of grain in the country continue to grow." The company is also currently evaluating options for transferring its existing Russian business and grain assets to new owners.

LDC will continue its activities in Russia until the process is completed in accordance with all applicable laws and regulations.

"The company will release additional information when and if necessary," the press service added.

The Ministry of Agriculture of the Russian Federation also confirmed the receiving of the relevant application from Louis Dreyfus Vostok LLC, a subsidiary of LDC in Russia. We should note that in 8 months of 2022/23 MY (July-February), Louis Dreyfus ranks tenth in the ranking of Russian grain exporters.

Earlier, two more global grain traders - Cargill and Viterra - officially announced the plans to leave the Russian grain market from July 1, 2023. In addition, the ADM company is considering the possibility of exiting the Russian grain market, which announced the cessation of exports in July of this year.

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