Cargill, Russia’s largest private agricultural commodities trader, this week announced it will stop exporting its grain from the country.
Specifically, Cargill noted in a statement that it will cease elevating grain it sourced from within Russia into export vessels for international shipment, starting in July 2023 at the completion of the current agricultural year. However, it will continue buying grain from other companies and exporting from Russia to destination markets.
Russian crops aren’t under sanctions, but trading operations are complicated by restrictions applied by Western nations to Russian banks and state companies.
Russia’s agriculture ministry said it plans to keep the export terminal, which is located at the Black Sea port of Novorossiisk, operational whether Cargill is involved or not.
