Business
Russia fails to privatise grain trader Rodnie Polya, sources say
Russia fails to privatise grain trader Rodnie Polya, sources say
About this update from Vtb
Russia has failed to privatise Rodnie Polya, formerly the country's largest grain trader, after receiving no bids at a state auction, two sources familiar with the matter told Reuters on Tuesday.Bids for the purchase of 100% of Rodnie Polya, which was nationalised in 2025, were accepted until March 31, with a starting price of 11.7 billion roubles ($149.20 million). The results were due to be announced on April 9.Russian Federal Agency for State Property Management (Rosimushchestvo) has not commented on the auction outcome. The auction's status on the official information website is listed as "winner is being determined".Rodnie Polya accounted for 14% of Russia's total grain exports in the 2023/24 season.The company, formerly owned by businessman Petr Khodykin, was transferred to state ownership in early 2025 following a lawsuit by the Russian Prosecutor General's Office, which cited Khodykin's foreign citizenship as a primary reason for the seizure.The company owned, among other assets, a major grain‑loading terminal in Rostov region that is classified as a strategic asset and, under Russian law, cannot be controlled by foreign entities.Interfax previously reported that Russia's biggest potash and ammonium nitrate producer Uralchem was among those potentially interested in buying Rodnie Polya.Sources in the agricultural sector also told Reuters that grain holding company Demetra and agriculture group GAP Resource could take part in the auction.Andrey Kostin, head of state-owned bank VTB RUS:VTBR, also did not rule out making a bid.Uralchem, VTB, Demetra and GAP Resource have not commented.($1 = 78.4205 roubles)