02 September 1999
Cargill voices millennium bug fears
CARGILL, the worlds biggest commodity trading group, has warned it will not trade in South Africa between mid-December and mid-January because of worries about the millennium bug.
It has told the Department of Agriculture in Pretoria that it plans to “avoid entering into or executing trades in maize, oilseeds, wheat or any other commodity” between those dates.
Cargill is offering to help its South African customers stockpile these commodities to see them over the period.
The computer bug is expected to affect electronic systems across the world at the beginning of the year 2000.
A quirk of the way dates have been programmed into software means that some computer systems might not work.
- Financial Times 02/09/99 page 5