ST. LOUIS, MISSOURI, US — The continuing conflict in Ukraine and sanctions on Russia could have an “adverse effect” on Bunge’s operations in the region, the company said.
Bunge, Archer Daniels Midland Co. and Cargill suspended operations in Ukraine last week after Russia invaded, Reuters said. None of the companies have suspended their business in Russia so far.
“The continuation of the conflict may trigger a series of additional economic and other sanctions ... Any such sanctions may also result in an adverse effect on our Russian operations,” Bunge said in a filing with the US Securities and Exchange Commission.
Bunge has been scaling back its Russian grain trading activities in recent years, Reuters said, including the sale of its Rostov grain export terminal last year that has left it with just $121 million in assets in Russia, according to the filing.
ADM did not have an immediate comment for Reuters on the company’s Russian operations. The company has an arm of its WILD Flavors business in Russia and owns a 50% stake in Aston Foods and Food Ingredients, a sweeteners and starches business.
Cargill maintains a far larger presence in Russia, with about 2,500 employees and investments in grain and oilseed processing, animal feed, poultry processing and other businesses.
Cargill declined to comment to Reuters.