- Cargill and Viterra, two top western shippers of Russian grain, are halting purchases for export in a shift that will give local firms more control over shipments.
- Glencore-backed Viterra is planning to exit the Russian export market and intends to announce the decision soon.
- Cargill will stop elevating Russian grain for export in July 2023 after the completion of the 2022-2023 season, but will continue to buy cargoes from other firms.
- The move comes as Russia makes it increasingly harder for foreign traders to obtain the paperwork necessary to export their grain, and tries to gain more control over its commodity shipments.
- State-backed Grain Gates and United Grain Co. are two of the big Russian firms that could benefit from the traders' exit.
Cargill and Viterra Are Exiting Russian Grain Export Market
The two biggest western shippers of Russian grain, Cargill Inc. and Viterra, will halt purchases for export in a shift that will give local firms more control over shipments.
Isis Almeida
