19 March 2023

In a letter to the Ministry of Agriculture of russia, Cargill notes that it has no intention of exporting russian grain starting from July 2023, rbc.ru reports.

Cargill currently belongs to the ten largest exporters of grain from russia. According to the estimates of rbc, in the 2022/23 season, the American company will export 2.2 million tons of russian grain. Its share will be approximately 4% of the total market volume.

In addition to trading activities in the russian federation, Cargill owns silos, a river grain terminal and a 25% stake in the deep-sea grain terminal KSK in Novorossiysk. The company is also engaged in the processing of grains and oilseeds (oilseeds crush, production of fodder and starch).

There is no information on the potential sale of these assets at the moment, but it is reported that "the company is beginning to review the portfolio of assets related to the export of grain".

In Ukraine, Cargill is one of the largest exporters of grains and, before the full-scale russian invasion, - of sunflower oil.

According to our estimates, since the beginning of the 2022/23 season, the company has exported about 1 million tons of Ukrainian grains. Also along with ADM Cargill is one of the leading Ukrainian rapeseed exporters of the current season. Together with a partner - the company M.V. Cargo - the company owns a port terminal in the Odesa with a total transshipment capacity of up to 5 million tons of per year.

At the same time, the Cargill oil processing plant in Kakhovka remains occupied (in 2014, the group lost the plant in Donetsk), so the company, which in previous seasons was one of the largest Ukrainian exporters of sunflower oil, is currently absent from this market.

The revenue of Ukrainian legal entity AT Cargill in 2020 amounted to almost UAH 17 billion.