Russia established control over grain exports from the country 09:15

Russia is increasing its control over the grain industry, one of the country’s top export destinations. He writes that this is happening against a backdrop of rising world wheat prices due to concerns about its supply. Bloomberg/

Under pressure from authorities, major Western traders such as Cargill and Viterra scaled back their operations in Russia last year to make room for local companies. Even the largest private exporter of the Russian Federation, TD RIF (now Rodnye Polya LLC), encountered problems in its work due to disputes with the state.

As a result, the grain market is in the hands of many players; Four companies now control 75% of Russia’s grain exports through Black Sea terminals, up from 45% six years ago.

“Russia’s desire to control commodity markets is real, and its influence over the grain industry is growing,” says Dan Busse, president of Chicago-based consulting firm AgResource.

Consolidation was intensified with the launch of the CBO, giving Moscow greater control over wheat supplies, which played a key role in reducing global food inflation. It has also become more difficult for Western traders to track supplies in Russia due to adverse weather conditions that have reduced the wheat harvest in the Russian Federation.

Last week it became known that Russia for the first time this year receivable It accounts for more than a quarter of the world grain market.

Previously Russian grain exports in May collapsed by almost 20%.

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Source: Gazeta

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