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Cargill

Cargill

Industry: 
Agriculture
Value of USG Contracts: 
990
Country: 
USA
Sources: 

"After years of difficulty caused by economic sanctions, suppliers are hoping a nuclear deal will make it easier to win lucrative contracts to sell wheat, sugar and other food to Iran…Top global agribusiness groups such as Cargill and Archer Daniels Midland Co and others like Swiss commodities trader Glencore-Xstrata have been among the dominant players in Iran's food trade. Those three firms confirmed they sell agricultural products to Iran, and said the activity was in compliance with sanctions." (Reuters, "Food suppliers look to win Iran contracts after nuclear deal," 11/28/13)

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"Oil major Royal Dutch/Shell is seeking to work around international sanctions by repaying a $1.4 billion oil debt to Iran with a grain barter deal via U.S. agribusiness giant Cargill CARG.UL, industry sources said... It is hoping to get clearance from U.S., UK and Dutch authorities - who will be under pressure to agree on humanitarian grounds - for an 'offset agreement' 'that would permit it to fund Cargill to deliver enough grain to Tehran to clear the debt... 'An offset transaction is the only way forward,' said another. 'They are looking at several options. The main one is Cargill.' Shell and Cargill declined to comment... Grain traders expect it to end up buying about 5 million metric tonnes on the open market in 2012, some of that supplied by Cargill." (Reuters, "Exclusive: Shell seeks Iran sanctions workaround via Cargill grain barter," 10/26/2012)

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"The Wall Street Journal reported Thursday morning that U.S. exports to Iran were increasing despite mounting enmity between both sides, while European Union exports to Tehran were falling . . . Both commodities trader Cargill Inc., of Minneapolis, Minn., which confirmed it was still trading with Iran, and Procter & Gamble have approached members of the U.S. Senate and the House of Representatives over Iran sanctions, according to disclosures made as recently as July 19, and the companies themselves. For instance, Cargill queried lawmakers over food and agricultural sales over the latest sanctions legislation, the Iran Sanctions, Accountability and Human Rights Act of 2012, which increases the pressure on Iran by targeting national oil and tanker companies, among others. A Cargill spokesman said that it and other companies, 'were seeking clarity on the language used in the various sanctions laws and regulations, and proposed laws,' on food exports to Iran." (Wall Street Journal, "U.S. Boosts Trade to Iran, Despite Sanctions," 8/16/12)

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"U.S. agribusiness giant Cargill also said in February it planned to continue grain shipments to Iran." (Reuters "Iran poised to start big feed grain imports," 4/13/2012)

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"Traders were unable to confirm which grain company sold the wheat to Iran, but suspected major grain companies such as Cargill Inc, Bunge Ltd or Archer Daniels Midland. ADM and Bunge did not respond to inquiries seeking comment and Cargill said they do not comment on market rumors. 'Cargill, like a variety of other multinational companies with a global agricultural footprint, does sell agricultural commodities to Iran, as food is specifically excluded from the sanctions. We take great care to ensure that these sales respect both the spirit and the letter of the law,' Cargill spokesman Mark Klein added." (Reuters, "Iran buys US wheat despite nuclear tensions," 3/1/2012)