- Condensed by Lynda Kiernan-Stone, Unconventional Ag Media
Cargill to Cease Exports of Russian Grain
Cargill Inc. has notified Russia’s Agriculture Ministry that it will cease exporting the country’s grain beginning with the start of the next exporting season beginning July 1. Most of the world’s global grain traders have stopped making new investments in Russia since the beginning of the war in Ukraine, but have continued to export Russian wheat.
The Russian Ministry has stated that the move will not negatively affect the volumes of domestic grain shipments headed to overseas markets, and that Cargill’s grain export assets will continue to operate no matter who is managing them.
Cargill, which owns a stake in the grain terminal at the port of Novorossiisk on the Black Sea, did not specify if it planned to sell its stake.
Additionally, it has been reported that Viterra, which is partially owned by Swiss trading giant Glencore, and is one of the largest exporters of Russian wheat along with Cargill, is also planning to cease grain trading in Russia.