Cargill quits Venezuela

After 34 years of activity in the country, US-based food corporation Cargill has agreed to sell its Venezuelan assets, including pasta, wheat flour, oil and animal feed plants, to Phoenix Global Investment Fund and local biscuit producer Puig.

The decision reflects the difficulties of doing business in the country, exacerbated by the political tensions between Nicolás Maduro's government and the Trump administration.

Earlier this year, Cargill announced a US $15 million investment in India to build a new plant for the production of supplements for dairy cattle.

Other companies to have shut down operations in Venezuela prior to Cargill include Kellogg's, General Motors, Kimberly Clark, Bridgestone Firestone, Pirelli, Smurfit Kappa, General Mills and Clorox.