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Bunge grain trader fears negative impact on its business in Ukraine, Russia due to war unleashed by Russia
KYIV. May 4 (Interfax-Ukraine) – The international grain trading group Bunge is watching the Russian military aggression in Ukraine, the continuation of which may negatively affect its business in both countries, the corporation has suspended its work in Ukraine and continues its operations in the Russian Federation.
The relevant information was made public in its report for 2021.
The continuation of the conflict may provoke a number of additional economic and other sanctions imposed by the United States, NATO and other countries. As the group continues its activities in Russia, any such sanctions may also adversely affect our operations in the Russian Federation, the grain trader said in a report.
According to the company, as of December 31, 2021, its assets in Ukraine were estimated at $681 million with total debt obligations of $484 million, and in the Russian Federation – $121 million $36 million, respectively.
The group maintains operations in both countries, which are key international grain origin regions. The outcome of the ongoing conflict is unclear. Its operations in Ukraine have been suspended, and the continuation of the conflict could have a material negative impact on its operations in Ukraine, the corporation said in the report.
Since the beginning of the military invasion of the Russian Federation in Ukraine, Bunge has donated $2 million for humanitarian purposes, assistance has been provided both through its subsidiary Bunge Ukraine (subsidiary Suntrade, Kyiv), and at the global level.
Bunge is one of the world’s largest companies processing and supplying oilseeds and grain products and ingredients. Founded in 1818, the company is headquartered in St. Louis, Missouri and employs nearly 25,000 people worldwide to operate more than 350 port terminals, processing plants, grain elevators, and food processing and packaging facilities.
In Ukraine, Bunge operates in the agricultural sector, being one of the leading grain exporters. The company produces and sells sunflower oil, including under the Oliyna trademark. Bunge has invested $280 million in the construction of the Dnipropetrovsk oil extraction plant and a grain terminal in the Mykolayiv seaport.