The last major grain trader is leaving Russia

The last major Western trader is leaving the Russian grain market, The Moscow Times reported on Monday.

The Louis Dreyfus Company, a French trading house, has finally decided to follow the example of American Cargill and Canadian Viterra, announcing the termination of its operations in Russia effective July 1. It “has been working with Russian grain since the time of Alexander II,” according to the newspaper.

The Moscow Times, as well as Russia’s Interfax, cites the company’s letter to the Russian Agriculture Ministry, saying that “in the face of increasing difficulties in the export of grain, we hereby confirm that the LDC group will stop exporting grain from Russia from July 1, 2023.”

The two news outlets seem absolutely satisfied with the explanation and do not explore possible reasons behind the “increasing difficulties,” such as Russia’s war of aggression against Ukraine. Because LDC continues its operations in Ukraine.

“Ukraine is a key market for LDC. Having established a strong origination and logistics network, we continue to expand our presence and activities in the country,” says the company’s website – despite real wartime difficulties.