News

Cargill enters grains market in its own right

03 Apr, 2009 05:58 PM

Cargill has bought joint venture partner GrainCorp out of their 50-50 owned business Australian Grain Accumulation.

GrainCorp will form a new grain accumulation team and AGA, which was formed seven years ago, will continue as a wholly owned subsidiary of Cargill Australia under its current name.

The decision by GrainCorp to voluntarily exit the joint venture was driven by the changing nature of the domestic and export grain market following the removal of the bulk wheat export monopoly in July 2008.

Share on
Facebook

Tweet on
Twitter

Email to
a friend

RELATED COVERAGE

02 Apr 09:

GM drought-tolerant wheat wait

03 Apr 09:

Tough times for VFF grains

01 Apr 09:

Single desk chapter ends as WGA disbands

31 Mar 09:

New wheat variety promises health benefits

01 Apr 09:

GrainCorp's phosphine hard line

comments

Date: Newest first | Oldest first

So much for the promise of an abundance of buyers clammering for our wheat Mr Burke. This was always going to happen as the larger players forced out, or bought out, their competitors. It will be only be a very short time before foreign interests control our wheat marketing and hence our production and logistics. Wake up Australia!

Posted by Wheat Fields., 6/04/2009 9:35:40 AM

It is not a surprise if you used to play "Monopoly". Every thing gets decided by the Big players and still we BOAST of our democracy. Good luck Aussie farmers. You are into it.

Posted by downtoearth, 6/04/2009 12:17:57 PM

Another monopoly takes over. This was predicted by an ex grain corp employee over 12mths ago after cargill started to buy up storage points. His comments were that once they get their foot in the door, Graincorp wants to watch out as they will lose the lot. Growers also need to take a good hard look as Cargill will be out to make bigger profits and the grower will lose out.

Posted by petro, 6/04/2009 1:15:05 PM

Cargill have done well out of the AGA deal -they used it as a vehicle to drive deregulation and now they have the AGA staff and intellectual property which includes the grower lists.

Posted by Spray Fallow, 6/04/2009 1:50:04 PM

post a comment

Screen name	*
Email address	*
Remember me?
Comment	*

	We invite and encourage our readers to post comments. Comments are moderated and will appear as soon as our editor has approved them. When posting comments you agree to be bound by our Terms and Conditions.