The loss of the largest western grain traders will amount to hundreds of millions of dollars if they exit the Russian market. Damage will be associated with loss of control over bunkers and export terminals to ship agricultural crops to foreign countries. informs Bloomberg.
March 29 issue of RBC reportedThe Russian subsidiary of the American company Cargill will stop grain exports from Russia in the next 2023/2024 agricultural year (from July 1, 2023 to June 30, 2024). TASS agency, referring to the press service of the Ministry of Agriculture, on the 30th day of the current month clarifiedFrom July 2023, the Canadian company Viterra, which is engaged in shipping Russian grain to foreign countries, will cease its operations in the country.
The role of local agricultural suppliers will increase after Western grain traders withdraw from the Russian market. The article states that after the separation of Cargill and Viterra, it will most likely be occupied by local exporters.
“The only change will affect the names that indicate ownership of the logistics assets that transport grain from farms along the Volga to the ports of the Black Sea. Western traders will have to leave these bunkers and export terminals, each incurring several hundred million dollars in losses along the way.
March 30 Bloomberg reportedThat Russian grain exporters would only “benefit” from the departure of the largest Western grain traders. At the same time, local agricultural products will continue to enter the world markets. At the same time, foreign companies will continue to send grain to Russia, but already receive the goods from outside the Russian Federation.