The international company Corteva, a manufacturer of crop protection products and seeds, has decided to leave Russia. It has halted new sales, initiated a plan to halt production and operations, the company's global website said. There is no information about Corteva's departure on the Russian website. “Agroinvestor” sent an inquiry to the company.
Corteva notes that employee safety and global food safety remain her priorities. The company has taken measures to ensure that the growth period in Ukraine is as normal as possible this year. It will also give the seeds to Ukraine, Africa and the Middle East region under next year's sowing to reduce the impact of military special operations on global food production, the statement said.
A week ago, during the agricultural forum, the director of the Plant Breeding Department of the Ministry of Agriculture, Roman Nekrasov, said that foreign suppliers of seeds, crop protection products and agricultural machinery do not want to leave the Russian market. According to the official, the risk of leaving foreign suppliers was concerned about agribusiness, but no one has declared any intention to leave the Russian market. "They all stay, they all plan to work here at least in the medium term," said Nekrasov.
Corteva Agriscience — DowDuPont's agricultural division, formed after the merger of Dow and DuPont in 2017. It consisted of DuPont Pioneer, DuPont Crop Protection and Dow AgroSciences. Corteva Agriscience has been a public company since June 2019. It specializes in the production of alfalfa seeds, Rapeseeds, Corn, Cotton, Rice, sorghum, Soybean, Sunflowers and Wheat. It also produces crop protection products, including herbicides, fungicides, and insecticides. The company also produces software for agriculture. Corteva's revenue was $15,6 billion last year, and operating EBITDA reached nearly $2,6 billion.