Reported 5 months ago
Russia is increasing its control over the grain industry, particularly in wheat production, as concerns rise about global supply shortages. Major Western merchants like Cargill Inc. and Viterra have pulled back from Russia, allowing the government and Kremlin-linked firms to dominate the market. This consolidation has intensified since President Vladimir Putin's invasion of Ukraine, with just four companies now responsible for three-quarters of grain exports from Russia's Black Sea terminals. This tighter control gives Moscow greater influence over wheat supplies, impacting global food inflation and making it harder for overseas traders to access information on market flows.
Source: YAHOO