Cargill halts grain exports from Russia Ship’s crew

Reuters

By Olga Popova and Karl Plume

MOSCOW/CHICAGO, March 29 (Reuters) – Cargill said on Wednesday it would take another step away from the Russian market by halting handling of Russian grain from its export terminal from July, although its shipping unit will continue to handle grain from Russian ports .

Most international grain traders have halted new investments in Russia since last year following Moscow’s invasion of Ukraine, but continue to export Russian wheat.

“As challenges related to grain exports continue to increase, Cargill will stop promoting Russian grain for export in July 2023 upon completion of the 2022-2023 season,” the company said in an emailed statement.

Lifting refers to the lifting of grain into export vessels.

Cargill, which owns a stake in the grain terminal at the Black Sea port of Novorossiysk, did not say it would sell the stake.

Russia’s agriculture ministry previously said Cargill had told it it would halt its grain export activities from the start of next season.

“The cessation of export activities on the Russian market will not affect the volume of domestic grain deliveries abroad. The company’s grain export facilities will continue to operate regardless of who manages them,” the agriculture ministry told Reuters.

In addition, grain trader Vittera, which is partly owned by Swiss mining and trading giant Glencore, plans to halt grain trading in Russia, Bloomberg News reported, citing sources familiar with the matter.

A Vittera spokesman declined to comment but said a statement would be released at a later date.

Vittera and Cargill are among the largest exporters of Russian wheat.

According to RBC Business Daily, Cargill will export 2.2 million tons of Russian grain in the 2022-23 export season, accounting for about 4% of Russia’s total grain exports.

(Reporting by Olga Popova in Moscow, Karl Plume in Chicago and Sybille de La Hamaide in Paris; Additional reporting by Olzhas Auyezov; Writing by Sybille de La Hamaide, editing by Jan Harvey and Josie Kao)

(c) Copyright Thomson Reuters 2023.

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