Cargill to cut back enterprise in Russia, maintain open meals and animal feed services

A Cargill emblem is pictured on the Provimi Kliba and Protector animal vitamin manufacturing unit in Lucens, Switzerland, September 22, 2016. REUTERS/Denis Balibouse

March 11 (Reuters) – World farm commodities dealer Cargill Inc (CARG.UL) mentioned on Friday it was scaling again its enterprise actions in Russia and has stopped investments within the nation, however would proceed to function “important” meals and animal feed services there.

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Agriculture corporations have been slower than oil corporations and retailers to announce they’re curbing Russian operations following Moscow’s Feb. 24 invasion of Ukraine, which has been close to universally condemned world wide.

“Meals is a fundamental human proper and may by no means be used as a weapon,” Cargill, a U.S.-based privately held firm, mentioned in an announcement.

Cargill this week eliminated particulars on its companies in Russia and Ukraine from its web site. The positioning beforehand mentioned Cargill employs about 2,500 folks in Russia, with investments of greater than $1.1 billion in agro-processing.

A Cargill spokesperson mentioned the data was eliminated as a result of the funding determine was not appropriate. The corporate declined to supply an up to date determine on Russian investments.

Rival Bunge Ltd (BG.N) mentioned on Thursday it had suspended any new export enterprise from Russia, however its oilseed crush plant continues to be working there and serving the home market. Bunge has $121 million in complete property within the nation, based on an SEC submitting.

Archer-Daniels-Midland Co (ADM.N) has mentioned it’s evaluating investments in Russia, the place it has an arm of its WILD flavorings enterprise and a 50% stake in Aston Meals and Meals Elements, a sweeteners and starches enterprise.

Louis Dreyfus Firm (LDC), the fourth within the quartet of the so-called ABCD corporations that dominate world grain buying and selling, mentioned it suspended Russian operations on March 4.

Reporting by Ruhi Soni in Bengaluru and Caroline Stauffer in Chicago
Modifying by Shinjini Ganguli, Frances Kerry and David Gregorio

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