Bunge suspends Ukraine operations after Russian invasion

24 Feb 2022 | John McGarrity

US agribusiness conglomerate Bunge on Thursday said it had temporarily suspended its Ukraine-based operations at processing facilities in Nikoalev and Dnipro, and the company offices are closed across the country following Russia's full invasion in the early hours of the day.

Bunge said it employs 1,000 people in Ukraine at two processing facilities and grain elevators in different parts of the country, as well as a grain export terminal in the Mykolaiv commercial seaport.

"Bunge’s highest priority and primary concern is for the safety of our employees. We remain in constant contact with our teams and we will continue to follow developments and take all appropriate actions to protect our employees and our business in the country," the company said in an emailed statement.

"Taking advantage of Bunge’s global network and footprint, the company will work to minimize any impact on our supply chain," the company added.

Prices for wheat, corn, oilseeds and vegoils rose sharply on Thursday as traders responded to the increased likelihood that invasion and war will cause major disruption to supplies from Black Sea ports and other routes.

Bunge said it also operates a dry corn milling facility in the Vinnytsya region, southwest of the country's capital Kyiv, through a joint venture with the Dacsa group.

Ukraine is a major producer and exporter of corn alongside a significant exporter of wheat and one of the world's biggest exporters of sunflower seeds and derivatives.