A survey by ATL, a trade magazine for farmers, shows that Swedish listed companies have sold 154,000 hectares of arable land and 1.4 million hectares of forest in Russia in the past two years.
In 2014 Triton Agri sold 36,000 hectares of land in Penza and last year a decision was taken to divest some 80,000 hectares. Triton Agri has decided to invest in grain production in Ukraine instead. Asked by DI if the strategy has anything to do with political developments in Russia, a spokesman for the company who wishes to remain nameless says: “This is sensitive. Our business does not benefit from our talking about it”.
Black Earth Farming is also divesting land in Russia, but CFO Erik Danemar says the company has no plans to exit the country. Instead the aim is to ensure that the land holdings in Russia are as productive as possible.