Reducing Activities: company scaling back some business operations while continuing others
Stay Scaling Back
Cargill, Incorporated, is a privately held American global food corporation based in Minnetonka, Minnesota, and incorporated in Wilmington, Delaware. Founded in 1865, it is the largest privately held corporation in the United States in terms of revenue. If it were a public company, it would rank, as of 2015, number 15 on the Fortune 500, behind McKesson and ahead of AT&T.
Reducing Activities: company scaling back some business operations while continuing others
Stay Scaling BackStill operating in Russia with increasing revenue volumes in 2022 vs 2021 (+$312mn or +17%). Global grain traders - Cargill, Viterra, Louis Dreyfus have stopped exporting Russian grain since July 1, 2023 and are leaving Russia. They informed the Ministry of Agriculture of the Russian Federation about this decision, as well as the fact that they are starting to work out the issues of transferring their business to new owners back in March of this year.
Continuing to operate food and feed facilities in Russia. Scaling back Russian business. Suspended new investments, unspecified scaling down of non-essential operations. The Russian "subsidiary" of the American corporation Cargill will stop exporting grain from Russia in the next agricultural year. In the letter, the company informs that in the next agricultural season 2023/24 (starting on July 1, 2023 and lasting until June 30, 2024) LLC "Cargill" does not plan to export grain from Russia "in accordance with the earlier discussion of grain export issues and recommendations of the Ministry of Agriculture". At the same time, the company promised that shipments planned for the current 2022/23 season will be carried out ""in full in accordance with the existing quota. Cargill confirmed to S&P Global that they still intend to purchase and sell Russian grain. A spokesman for the Russian Union of Grain Exporters declared that “Cargill has made a decision to close one of its business lines but not to leave the Russian market”. Decreased revenue in 2023 vs 2022.