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Agriculture firms have been slower than oil companies and
retailers to announce they are curtailing Russian operations
following Moscow's Feb. 24 invasion of Ukraine, which has been
near universally condemned around the world.
"Food is a basic human right and should never be used as a
weapon," Cargill, a U.S.-based privately held company, said in a
statement.
Cargill this week removed details on its businesses in Russia
and Ukraine from its website. The site previously said Cargill
employs about 2,500 people in Russia, with investments of more
than $1.1 billion in agro-processing.
A Cargill spokesperson said the information was removed because
the investment figure was not correct. The company declined to
provide an updated figure on Russian investments.
Rival ADM said in a statement its footprint in Russia was very
limited and it would "scale down operations in Russia not
related to the production and transport of essential food
commodities and ingredients."
ADM has an arm of its WILD flavorings business in Russia and a
50% stake in Aston Foods and Food Ingredients, a sweeteners and
starches business.
Rival Bunge Ltd said on Thursday it had suspended any new export
business from Russia, but its oilseed crush plant is still
operating there and serving the domestic market. Bunge has $121
million in total assets in the country, according to an SEC
filing.
Louis Dreyfus Company (LDC), the fourth in the quartet of the
so-called ABCD companies that dominate global grain trading,
said it suspended Russian operations on March 4.
(Reporting by Ruhi Soni in Bengaluru and Caroline Stauffer in
ChicagoEditing by Shinjini Ganguli, Frances Kerry and David
Gregorio)
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