Viterra officially announced the termination of the export of Russian grain

The Ministry of Agriculture of Russia received a notice from the grain trader Viterra to stop export activities in Russia from July 1, writes TASS with reference to the press service of the department.

“The Ministry of Agriculture of Russia received a notification from Viterra Limited about the termination of export activities from July 1, 2023. The company is currently considering the possibility of transferring Russian assets to new owners,” the ministry said.

At the same time, the Ministry of Agriculture assured that the withdrawal of Viterra from the market will not affect the export of Russian grain, all transshipment capacities will be preserved and will 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.

“At the same time, this sector is highly competitive, and Russian players are ready to quickly occupy the vacant niches,” the Ministry of Agriculture added.

About Viterra’s intentions to leave the Russian grain export market Bloomberg informed March 29.

On March 29, it also became known that in the next agricultural season, the Russian division of the American largest grain supplier Cargill will stop exporting products from Russia. About it informed RBC with reference to a document in which the company notified Oksana Lut, Deputy Head of the Ministry of Agriculture, of its decision.

It is specified that the agricultural season will begin on July 1, 2023 and will last until June 30, 2024. From that moment on, the company will stop exporting grain from Russia. The document emphasizes that all commitments made for the current season will be fully implemented by the end of June.

At the same time, the Russian “daughter” of Cargill announced that it had launched the process of revising the assets associated with the export of grain, which are included in its portfolio. At the same time, the company stressed that the changes will not affect “any other activities and assets of Cargill in Russia.”