Chávez seizes Cargill rice plant

Related tags Cargill

Venezuelan president Hugo Chávez has taken control of a rice plant owned by a subsidiary of Cargill, according to reports, on the grounds that it does not produce price-controlled basic rice.

The multinational has had operations in Venezuela for the last 13 years, producing parboiled rice. Anti-US Chávez, who is popular in his home country for controlling prices of consumer goods, has implemented price controls on basic white rice.

Cargill has said it is respectful of the decision, but hopes it can be resolved through talks. In addition to rice, Cargill has 2000 employees in Venezuela, and operations there in oilseed processing, grain and oilseeds trading, animal feed, salt, and financial and risk management.It is not known whether these operations have been affected.

Other rice mills seized in the country in the last few days belonged to Polar. The distributor has pledged to take legal action, according to the International Herald Tribune​.

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