Russia says Cargill will cease exports of its grain

MOSCOW, March 29 (Reuters) - Global commodities trader Cargill Inc has told Russia's Agriculture Ministry that it will stop exporting Russian grain from the start of the next exporting season, which begins on July 1, the ministry said on Wednesday.

"The cessation of its export activities on the Russian market will not affect the volume of domestic grain shipments abroad. The company's grain export assets will continue to operate regardless of who manages them," the agriculture ministry said in a comment to Reuters.

A spokesperson for Cargill's Russian unit declined to comment.

Earlier the RBC business daily reported that the company's Russian unit had notified Agriculture Deputy Minister Oksana Lut in a letter that it would stop exporting grain in the new season.

According to the RBC report, Cargill will export 2.2 million tonnes of Russian grain in the 2022-23 exporting season, or around 4% of Russia's total grain exports. (Reporting by Olga Popova; Additional reporting by Olzhas Auyezov; Editing by Jan Harvey)