Minnesota-based agribusiness Cargill said it will stop exporting Russian grains sourced by the company by the middle of this summer.
"(A)s grain export-related challenges continued to mount, Cargill will stop elevating Russian grain for export in July 2023 after the completion of the 2022-2023 season," the company said in a statement.
"Elevating" is industry parlance for the lifting of grain into export vessels. As of March 2022, Cargill still owned 25% of a vital deep sea port terminal in Novorossiysk in southwest Russia.
