Crop Trader ADM Weighs Options to Exit Main Russian Business
- Chicago-based firm is reviewing its joint venture with Aston
- Move comes as Western rivals exit Russia’s grain-export market
Source: Bloomberg
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Archer-Daniels-Midland Co. is weighing options to exit its main Russian operations, potentially adding to the list of Western agriculture traders pulling back from the world’s top wheat exporter.
The Chicago-based company is reviewing its 50% stake in a joint venture with Russian partner Aston, according to people familiar with the matter who asked not to be identified because the plans aren’t public. The venture, launched in 2018, processes corn to produce sweeteners and starches for the Russian food and beverage industry.