Commodity giant Glencore trader Viterra said it would not continue its business and export grain out of Russia after July 1. The decision came after Cargill also said it would stop handling and loading Russian grain from export terminals, but would still ship crops from the country's ports.

"After continuous monitoring of the situation last year, Viterra concluded that its activities in Russia no longer fit the company's long-term direction. We are evaluating options to transfer our business and assets in Russia to new owners," a company spokesperson told Dow Jones Newswires.

Some of the world's largest grain traders and seed companies have opted to remain in Russia since the invasion of Ukraine, citing humanitarian concerns and global food security.

Source: RPA news