MOSCOW (Pakistan Point News / Sputnik - 29th March, 2023) The Russian subsidiary of US-based global food corporation Cargill will cease grain exports from Russia in the next agricultural season, which lasts from July 1, 2023 to June 30, 2024, and will carry out all shipments scheduled for the current season in accordance with the quotas, the Russian RBK media outlet reported on Wednesday, citing a letter to the Russian Agriculture Ministry.
The company was not planning to continue the exports of Russian grain starting from the next agricultural season "in accordance with the earlier discussion of grain export issues and the recommendations of the agriculture ministry," the letter to First Deputy Agriculture Minister Oksana Luth read, as quoted in the report.
The report said that Cargill would export about 2.2 million tonnes of grain from Russia in the current season, which accounts for 4% of the whole food export volumes.
Meanwhile, the company announced that it was starting to review its food-related assets in the country, but did not consider any changes connected with other entity's activities and assets in Russia.
From 2021-2022, the amount of Cargill exports stood at 1.5 million tonnes, 3.9% of the seasonal Russian grain exports, which totaled 38.1 million tonnes, according to the Russian Union of Grain Exporters.
