MOSCOW (Reuters) - Rusagro, Russia’s leading producer of sugar, meat, oil and fat products, has lost nearly a third of its market value on the Moscow stock exchange since news of the detention of its billionaire founder Vadim Moshkovich emerged on Wednesday.

Rusagro shares fell to an intra-day low of 156.32 roubles on Thursday, down more than 32% from the open on 230.50 roubles on Wednesday, according to data from MOEX.

News that police had charged Moshkovich appeared on Wednesday.