Russia Tightens Grain Trade Grip as Western Firms Pull Back
- Several international traders have changed tack this week
- Viterra’s move to stop shipments is one of the strongest yet
Source: Bloomberg
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In the span of just two days, the future of Western grain traders in Russia has been quickly rewritten.
Major grain trader Viterra said Thursday it will stop shipping crops from Russia starting in July and may shed its assets there, confirming an earlier Bloomberg report. Just one day earlier, Cargill Inc. said it would soon stop exporting grain it sources in Russia, although it can continue buying cargoes from other firms at ports.