Louis Dreyfus to stop exporting Russian grain from July 1

The French agricultural trading giant Louis Dreyfus will stop exporting Russian grain from July 1, the company said in a statement on Monday.

In a letter, the local head of the company said: "Louis Dreyfus Company (LDC) will cease grain exports from Russia from July 1, 2023, as grain export challenges continue to increase in the country, and is also assessing options for the transfer to new owners of its existing Russian business and grain assets."

Louis Dreyfus' head office confirmed the move to Reuters.

In its own statement, the Russian agriculture ministry said it had received notice from Louis Dreyfus Vostok ("East") that it would cease handling Russian grain exports. It said the move would not affect the volume of Russian grain exports.

Last week, the trading firms Cargill and Viterra announced they would no longer handle Russian grain exports.

IC UAC according to Reuters