In the statement made by the Russian Ministry of Agriculture, it was stated that Louis Dreyfus decided to stop grain exports from Russia.
“The company is currently investigating the possibility of transferring its assets in Russia to new owners,” the statement said.
In the statement, it was pointed out that the departure of Louis Dreyfus and other Western agricultural products companies from Russia will not affect the food exports in the country.
The Russian Ministry of Agriculture announced on March 29 that Cargill and Viterra companies also decided to cease their export activities in the Russian market.
With a 19 percent share in the global grain market, Russia is the world’s largest grain exporter.