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Wheat harvest in the Stavropol Territory. archive photo

Bloomberg: The departure of Western grain traders will increase Russia’s geopolitical influence

MOSCOW, April 1 – RIA Novosti. The withdrawal of Western grain traders from the Russian market will increase Russia’s geopolitical influence as Russian exports fall under state control, the agency reported. Bloomberg.

Recalling the departure of several foreign companies, journalists noted that such a process could drastically change the landscape in the global food market.

The separation of Cargill and Viterra leaves Russian grain stocks largely in the hands of domestic and state-financed companies, meaning Russia will control most of the needed revenue.

According to Bloomberg, such a situation pushes states to negotiate grain supplies without the help of international traders, making the food market extremely geopolitically important.

On Thursday, the Russian Ministry of Agriculture announced that it has received a notification from Canadian Viterra Limited, one of the world’s largest suppliers of agricultural products, to cease export activities in Russia from 1 July this year.

The machine unloads the grain - RIA Novosti, 1920, 23.01.2023

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Source: Ria

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