Trading giant Louis Dreyfus Commodities said on Thursday it has entered a joint venture agreement with Brooklyn Kiev LLC to develop and manage a multi-commodity terminal in Odessa, Ukraine, as it expands in one of the world’s top grain exporters.
While Louis Dreyfus is already active in shipping grains from the Black Sea – a region which accounts for about a quarter of global wheat volumes – the terminal will help it to compete with rivals such as Bunge which already has an export facility there.
Glencore has also sought to increase its presence in the Black Sea region and last year bought a 50 percent stake in a Russian export terminal alongside Ukrainian agricultural producer Kernal.