MOSCOW, April 3. /TASS/. A subsidiary of the global grain trader Louis Dreyfus will cease exporting Russian grain beginning July 1, 2023, a source in the Russian Agriculture Ministry’s press service told TASS.

"Russia’s Agriculture Ministry has received a notification from Louis Dreyfus Company Vostok LLC on suspension of grain exports from Russia starting July 1, 2023. The company is currently exploring options to put the existing Russian business and grain assets under new ownership," the source said.

The exit of LDC, just like other foreign grain traders, will not affect the volume and dynamics of Russia’s food exports, the ministry added.

On March 29, the Russian Agriculture Ministry said that it had received a notification from the Russian subsidiary of US-based agribusiness giant Cargill regarding the latter’s termination of export operations in the Russian market. On March 30, the ministry received a notification from Viterra Limited about the termination of export activities from July 1, 2023 and that it would transfer Russian assets to new owners.