American agricultural products trader Cargil will stop exporting Russian grain.
The article notes that the company informed the deputy head of the Ministry of Agriculture Oksana Lut about its intentions.
In the next agricultural season (from July 1, 2023 to June 30, 2024), the company will not export grain from Russia. At the same time, the shipments planned for the current season will be completed in full.
Also, the Russian “daughter” of Cargill will review its portfolio of assets related to grain exports. However, there are no plans to change the company’s other activities and assets in Russia.
Cargill is one of the world’s largest suppliers of agricultural products. According to the newspaper, this season the company will export about 2.2 million tons, or about 4% of all Russian grain exports.
Experts believe that Cargill’s decision will not affect the total volume of Russian grain exports. The head of the Union of Grain Exporters Eduard Zernin noted that the company is among the major exporters, but not in the top 5. Therefore, the trader’s departure will simplify the situation for the rest of the grain market players.
The Ministry received a notification from the company about the termination of export activities in the Russian market. This information was confirmed by TASS in the press service of the Ministry of Agriculture. The ministry stressed that they are ready to work with all foreign companies whose activities contribute to the development of Russia’s domestic market and its export potential.