RBC: one of the largest suppliers in the world will stop grain exports from Russia

LLC Cargill, the Russian subsidiary of one of the largest grain suppliers in the world Cargill, will stop exporting Russian grain in the next agricultural year (starts on July 1, 2023 – “b”). The company plans to complete the supplies planned for the current season in full. This was reported RBC with reference to sources and a company notification sent to the Ministry of Agriculture.

As stated in the letter, the company will not export Russian grain “in accordance with the earlier discussion of grain export issues and recommendations” of the Ministry of Agriculture. The department confirmed receipt of the letter.

The Russian “daughter” of Cargill also began to review its portfolio of assets related to the export of grain. At the same time, according to RBC, no changes are planned in other areas of the company’s work in Russia.

According to experts interviewed by RBC, Cargill’s decision will not affect the total volume of Russian grain exports. According to RBC, in the 2022/2023 season, the company will supply 2.2 million tons of grain to world markets, or almost 4% of all Russian exports. According to the interlocutor of RBC, the company decided to stop the export of Russian grain due to pressure on the market from the Russian government, as well as tightened regulation of the industry.

Olesya Pavlenko