Rusagro to abandon soybean processing
29 May 2020
Rusagro, a Russia-based agroholding, wants to sell its soybean processing plant Primorskaya Soya until 2021. The facility has been out of operation since late 2019. According to the report, the main obstacles to the operation of the enterprise were the high cost of raw materials, the low price of finished products, and reduction of demand due to frequent outbreaks of animal diseases.
Also, Rusagro plans to sell the remaining soybean stocks in the nearest future. Primorskaya Soya specializes is production of vegetable oils. In 2019, its net profit was $1.35 million.