Global grain impact? Cargill formally pulls out of Russia.
Global agriculture commodities giant Cargill Inc has reportedly told Russia it will stop exporting grain from the country when the next exporting season begins, July 1.
Reuters reports the commodities trader informed Russia’s Agriculture Ministry on Wednesday, and Cargill’s Russian unit declined to comment.
This exporting season, Cargill is expected to ship 2.2 million tons of Russian grain, or roughly 4% of Russia’s total grain exports. The agriculture ministry says Cargill’s decision will not affect the volume of domestic grain shipments abroad, and grain exports will continue regardless of who manages them.