Two Major Grain Companies Announce They Will Stop Doing Business in Russia
Within two days at the end of March, two grain companies said they will cease operations in Russia.
First reported by Bloomberg and Reuters on March 29, Cargill will stop exporting Russian grain starting July 1, which is the beginning of the next exporting season. University of Illinois FarmDoc posted a recap of this news with its analysis here.
On March 31, Viterra released this statement: “Following continued monitoring of the situation over the past year, Viterra has concluded that its activities in Russia no longer fit the long-term direction of the company. We are assessing options to transfer our business and assets in Russia to new owners, and will provide further information when and if appropriate.”
