“After comprehensive analysis of its grain and oil business in the Central and Eastern Europe, Cargill decided to stop development of materials for farmers and leave these kinds of activity by late may 2016. That will have an impact on Cargill’s business in Hungary, Romania, Russia, Slovakia, Ukraine, Bulgaria and Poland”, reads the message at the company’s website.
Going forward, the company will focus its attention on its grain and oilseeds origination, merchandizing and trading activities in these markets.
The company says that the Black Sea region remains a key focus for strategic growth and Cargill will continue to strengthen its existing investments and operations, including its network of port terminals and oilseed crush plants in the region.
Cargill is one of the world’s leading producers and suppliers of food and agricultural products. In Ukraine, the company owns two oil-extracting factories and six grail silos, as well as 5 percent of stocks of Ukraine’s largest agrarian holding “UkrLandFarming”. The holding’s land bank makes 670 thousand hectares; 35 of those in Donetsk and Luhansk regions and 12 thousand – in Crimea.