Reuters — Agricultural commodities trader Bunge Ltd. said Sept. 19 that it has agreed to sell its oilseed processing business in Russia to Karen Vanetsyan, the controlling shareholder of Exoil Group.
The sale includes the sunflower processing plant in Voronezh.
Bunge and its rivals Archer-Daniels-Midland Co., Cargill Inc. and Louis Dreyfus Co. had begun scaling back their Russian operations in March, following the country’s invasion of Ukraine.
Bunge did not reveal financial details about the deal.
The company has been scaling back its Russian grain trading activities in recent years, including the sale of its Rostov grain export terminal last year.
