Russia’s largest grain trader to engage in farming
14 July 2020
Trade House “RIF”, Russia’s largest grain trader and exporter, has acquired the claim rights over the loan of a Russian crop producer YugAgroHolding to MInBank (Moscow Industrial Bank). In 2019, YugAgroHolding reported net loss of $9.5 million, and its total debt to MInBank is estimated at $15.2 million. RIF has been financing the sowing and harvesting campaigns of YugAgroHolding operating 30,000 hectares over the recent years, and from now on plans to improve production processes at the enterprise in order to make it profitable. Over the next two years, YugAgroHolding will have the right to buy back its shares which are now under control of RIF.