According to a letter sent by Cargill Russia to a senior Russian official and reported by Russia’s RBC news website on Wednesday, the global agricultural commodity trader Cargill will halt its exports of Russian grain this summer while continuing its other operations in the country.
Cargill Russia has informed Russian Deputy Agriculture Minister Oksana Lut that it will cease its grain exports from Russia starting July 1, the beginning of the next grain exporting season.
However, Russia’s Agriculture Ministry stated that Cargill’s decision would not affect the country’s grain shipments abroad. Cargill, the sixth-largest exporter of Russian grain, may have chosen to end its grain exports due to pressure from the Russian government, as per RBC.
Meanwhile, Cargill Russia has indicated that it will assess its portfolio of assets related to grain exports, but it does not intend to alter its other businesses in the food, industrial, and financial sectors.
Before the self-imposed July 1 deadline, Cargill Russia plans to export approximately 2.2 million tons of Russian grain this season, which accounts for roughly 4% of Russia’s total grain exports.