Grain trader Viterra to withdraw from the Russian market
Viterra, one of the world’s leading grain traders, will soon announce its withdrawal from the Russian market. It is reported by Railway Supply magazine with reference to Rail.insider. This is the second leading agricultural trader to leave the Russian market in recent days. The first was Cargill.
“The decisions of Viterra and Cargill traders are related to pressure from the Russian authorities and unwillingness to fall under sanctions due to cooperation with Russian banks and state-owned companies,” the report says. Currently, Viterra is one of the six largest grain exporters from the Russian Federation.
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Earlier, the leading Russian fertilizer producer UralChem informed the president of the aggressor country of its readiness to acquire the Russian assets of Cargill and Viterra.
“The authorities of the Russian Federation are constantly complicating the working conditions of foreign grain trading companies, in particular, by introducing new requirements for document flow. The state is trying to increase control over the shipment of grain, and is also discussing the introduction of a minimum price level for wheat.
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