Link/Page Citation
The Australian - GrainCorp backs green fuel push - 14/6/2024
GrainCorp chief executive Robert Spurway has backed the federal government's launch of a consultation process on incentives needed to develop an Australian...
For the complete story, see:
https://www.theaustralian.com.au/business/agribusiness/graincorp-backs-government-push-on-renewable-fuel/news-story/44765ff449ba93e99d3bc7b547492b37
The West Australian - Grain growers step up fight against live sheep ban - 14/6/2024
Grain Producers Australia has made a strong submission to the House Standing Committee on Agriculture's inquiry into legislation tabled in Federal...
For the complete story, see:
https://www.countryman.com.au/countryman/opinion/barry-large-grain-growers-are-stepping-up-the-fight-against-federal-labors-live-sheep-export-ban-c-14973464
Bloomberg - Australia Wheat Exports Curbed as Dry Weather Parches Fields - 7/6/2024
Weather-hit wheat production in Western Australia, the top exporting state, and dwindling stockpiles will limit the amount of the staple the nation can export in the coming year, further straining global supplies.
For the complete story, see:
https://www.bloomberg.com/news/articles/2024-06-06/australia-s-wheat-exports-curbed-as-dry-weather-parches-fields
Other Stories
Bloomberg - Brazil's Surprise Tax Change Draws Ire From Group Representing Cargill, Bunge - 7/6/2024
Voice of America - Australian Seed Company Tests AI Gene Editing in Wheat - 7/6/2024
North Queensland Register - Sustainable Grain Australia pushes for aerial spray exemptions - 6/6/2024
World Grain - Indian chickpea tariff suspension cheers Australia - 5/6/2024
World Grain - Australian winter crop totals expected to increase 9% - 4/6/2024
Media Releases
GrainCorp Limited (ASX: GNC) - Boys to the Bush visit GrainCorp Junee - 14/6/2024
CBH Group - CBH calls for growers to provide their hectares planted - 13/6/2024
Viterra Australia - How growers can assist with maintaining access to barley and canola markets - 13/6/2024
Archer Daniels Midland Group - Farmers Achieve Lower Carbon Emissions with the Help of a New Regenerative Agriculture Collaboration in Europe - 13/6/2024
Bunge and CP Foods Pioneer Greater Transparency in Shipments of Deforestation-Free Soybeans Using Blockchain Technology - 10/6/2024
Latest Research
Rise and demise of chemical used for Australian grain protection with a focus on New South Wales - By Robert Ryan and Bernard C Dominiak
Industry Overview
Grains Research and Development Corporation (GRDC)
Australian Oilseeds Federation
Barley Australia
Grain Growers Ltd
Grain Producers Australia
Grain Trade Australia
Pulse Australia
Wheat Quality Australia
Overviews of Leading Companies
Archer Daniels Midland Group
Bunge Agribusiness Australia
Cargill Australia
CBH Group
CSBP Limited (ASX: WES)
Cubbie Group
Elders Limited (ASX: ELD)
Emerald Grain (TYO: 80530)
GrainCorp Limited (ASX: GNC)
Incitec Pivot Limited (ASX: IPL)
Landmark (NYSE: NTR, TSE: NTR)
Webster Limited (ASX: WBA)
Viterra Australia
Senior Associate: Theadore Leighton Manjah
News and Commentary
The Australian - GrainCorp backs green fuel push - 14/6/2024
GrainCorp chief executive Robert Spurway has backed the federal government's launch of a consultation process on incentives needed to develop an Australian...
For the complete story, see:
https://www.theaustralian.com.au/business/agribusiness/graincorp-backs-government-push-on-renewable-fuel/news-story/44765ff449ba93e99d3bc7b547492b37
The West Australian - Grain growers step up fight against live sheep ban - 14/6/2024
Grain Producers Australia has made a strong submission to the House Standing Committee on Agriculture's inquiry into legislation tabled in Federal...
For the complete story, see:
https://www.countryman.com.au/countryman/opinion/barry-large-grain-growers-are-stepping-up-the-fight-against-federal-labors-live-sheep-export-ban-c-14973464
Bloomberg - Australia Wheat Exports Curbed as Dry Weather Parches Fields - 7/6/2024
Weather-hit wheat production in Western Australia, the top exporting state, and dwindling stockpiles will limit the amount of the staple the nation can export in the coming year, further straining global supplies.
For the complete story, see:
https://www.bloomberg.com/news/articles/2024-06-06/australia-s-wheat-exports-curbed-as-dry-weather-parches-fields
Bloomberg - Brazil's Surprise Tax Change Draws Ire From Group Representing Cargill, Bunge - 7/6/2024
A surprise tax change in agriculture powerhouse Brazil is disrupting business and drawing the ire of groups representing some of the world's top crop traders including Cargill Inc. and Bunge Global SA.
For the complete story, see:
https://www.bloomberg.com/news/articles/2024-06-06/surprise-tax-change-upends-trading-in-crop-powerhouse-brazil
Voice of America - Australian Seed Company Tests AI Gene Editing in Wheat - 7/6/2024
Agriculture companies are using new methods to change the genes of plants to produce more productive crops.
For the complete story, see:
https://learningenglish.voanews.com/a/australian-seed-company-tests-ai-gene-editing-in-wheat/7626128.html
North Queensland Register - Sustainable Grain Australia pushes for aerial spray exemptions - 6/6/2024
Sustainable Grain Australia, the entity set up to help administer International Sustainability and Carbon Certification (ISCC) accreditation for Australian growers, is continuing to push for exemptions in terms of rules regarding aerial spraying.
For the complete story, see:
https://www.northqueenslandregister.com.au/story/8654662/sustainable-grain-australia-pushes-for-aerial-spray-exemptions/
World Grain - Indian chickpea tariff suspension cheers Australia - 5/6/2024
The Indian government has suspended tariffs on desi chickpeas, a decision lauded as a boost for the Australian and Indian pulse markets by Grains Australia, which said it is keen to help build on the development.
For the complete story, see:
https://www.world-grain.com/articles/19947-indian-chickpea-tariff-suspension-cheers-australia
World Grain - Australian winter crop totals expected to increase 9% - 4/6/2024
Australia's overall winter crop production is expected to increase 9% to 51.3 million tonnes in 2024-25 and be the fifth highest on record, according to the June report from ABARES.
For the complete story, see:
https://www.world-grain.com/articles/20064-australian-winter-crop-totals-expected-to-increase-9
Media Releases
GrainCorp Limited (ASX: GNC) - Boys to the Bush visit GrainCorp Junee - 14/6/2024
You can't be what you can't see - a common turn of phrase, but one that rings true for kids growing up in regional communities.
With kids in regional Australia having less access to education resources than their metropolitan counterparts and being roughly 25% less likely to obtain a bachelor's degree or above* - it's important to show them alternative career pathways.
Recently, we welcomed 15 primary school boys to our Junee grains receival site in New South Wales, as part of the Boys to the Bush MENtoring program.
Boys to the Bush is a Not-for-Profit charity providing early intervention programs for disengaged and disadvantaged young males in regional NSW and Victoria.
GrainCorp's Regional Operations Manager Warwick Smith worked with Junee Site Manager Sam Heffernan and Boys to the Bush Location Manager Ben Walsh to organise a site tour for the boys.
"We started the day with a quick introduction to GrainCorp and the role we play in the agriculture industry, before heading across to the sample stand to show the boys how we grade grain," explains Sam.
"After letting them jump in the front seat of a loader, we took them across to the storage area where we explained how the bunkers and silos work," Sam said.
In the spirit of confidence building and teamwork, Sam and Ben led the group to the top of the silos where the boys admired a new view and began to understand the scale of operations.
The tour wrapped up with a BBQ lunch and the boys quizzed our team on the different types of roles available to them through GrainCorp.
"Part of Boys to the Bush's purpose is connecting young boys to their local communities to create a greater sense of belonging," says Ben.
"With the agricultural industry a big part of our regional community, it's amazing to have an organisation like GrainCorp offer their support in educating and providing experiences to the boys."
"The boys enjoyed learning the processes and science behind the grains industry, and all agreed they met great role models that they will strive to be like in the future," Ben says.
https://www.graincorp.com.au/boys-to-the-bush-visit-graincorp-junee/
CBH Group - CBH calls for growers to provide their hectares planted - 13/6/2024
While harvest is a few months away, CBH is already busily preparing for the upcoming crop. As part of these preparations, the annual call has gone out to growers to submit their hectares planted for the 2024/25 harvest.
Growers who submit their hectares planted using Paddock Planner before 31 July 2024 go into the draw to win a $1,000 accommodation voucher and $500 towards a charity or club of their choice.
CBH Chief Operations Officer Mick Daw is reminding growers of the importance of submitting their hectares planted for harvest preparations and long-term network decisions.
"It is important that growers tell us what they have planted so we can plan accordingly and to enable the network to operate as efficiently as possible," Mr Daw said.
"The good news is growers can adjust their hectares at any time in Paddock Planner as the season progresses, and it's helpful for us if they start letting us know early what they have planted.
"In previous years, grain deliveries at some sites were more than what had been submitted, which has the potential to result in storage shortfalls and impact services to growers at those sites."
CBH is now in its eighth year of using Paddock Planner and is seeing a continued increase in the up-take of the tool.
Newdegate grower Rochell Walker has been using Paddock Planner since 2019 and has seen value in the program both on farm and for CBH.
"We've been using Paddock Planner for a several years now and the process is really quick and simple," Ms Walker said.
"You just enter the commodity, variety and start creating your paddocks. The preloaded data helps make the process even quicker.
"Paddock Planner is a simple tool for us to help CBH plan for our deliveries for the season. It really helps to inform segregation decisions based on our real information."
Mr Daw said hectares planted, submitted through Paddock Planner not only help CBH to plan for the coming harvest but also helped to make better informed long-term network investment decisions.
"Paddock Planner improves our decision-making and continues to play a key role in achieving our 'Path to 2033' strategy target of exporting a peak 3 million tonnes per month by 2033," Mr Daw said.
"This information also provides a level of accuracy and validation that facilitates our long-term investment in storage.
"For example, Paddock Planner information played an important role in identifying the need for and providing CBH the confidence to build 95,000 tonnes of additional permanent storage at Munglinup in the Esperance Zone. This investment will cater for a growing crop size, broaden the site's service offering for growers and enhance supply chain agility within the Esperance Zone.'
Growers who need help submitting their hectares planted can call the CBH Grower Service Centre on 1800 199 083 or their Area Manager.
https://www.cbh.com.au/media-releases/2024/06/cbh-calls-for-growers-to-provide-their-hectares-planted-to-assist-with-harvest-planning
Viterra Australia - How growers can assist with maintaining access to barley and canola markets - 13/6/2024
Barley and canola growers are reminded of how they can assist with maintaining market access, by ensuring they are confident in the variety of malt barley they purchase, plant and declare when delivering to Viterra sites, and maintaining strong hygiene practices when storing, handling, transporting and harvesting genetically modified (GM) canola and malt barley.
Malt barley variety testing technology trial
Viterra is continuing to trial technology which allows it to test the variety of malt barley samples in its laboratory. This innovative technology will help confirm the variety of malt deliveries to ensure there is no varietal contamination within segregations.
Maltsters require malt barley of a single variety to produce high quality malt and are investing in varietal recognition technology to confirm this. To maintain access to the premium malting market for SA growers, Viterra must ensure it supplies malt barley with high varietal purity.
Viterra will continue to test harvest partitions regularly to ensure malt barley meets the specific requirements of end use customers, including variety.
Viterra retains samples of all malt barley deliveries for traceability and varietal testing. If varietal contamination is found within malt barley harvest partitions, Viterra's contamination procedure will be implemented as the segregation may need to be downgraded to feed.
GM canola: strong hygiene practices vital all year round
As preparations for the 2024/25 harvest begin, growers are reminded of the importance of maintaining strong hygiene practices when storing, handling, transporting and harvesting GM canola, as well as accurately declaring the variety and if it is genetically modified when delivering to Viterra sites.
To ensure Viterra can meet the requirements of end users and maintain market access for growers' canola, it tests non-GM canola harvest partitions for the presence of GM canola and retains samples of all canola deliveries for traceability.
Where GM canola is detected in non-GM segregations Viterra's contamination procedure will be implemented, including testing individual samples to determine the source of contamination.
https://www.viterra.com.au/media/news/2024/how-growers-can-assist-with-maintaining-access-to-barley-and-canola-markets
Archer Daniels Midland Group - Farmers Achieve Lower Carbon Emissions with the Help of a New Regenerative Agriculture Collaboration in Europe - 13/6/2024
ADM (NYSE: ADM) and Bayer today announced an extension of their collaboration, working with farmers in a bid to drive the further adoption of regenerative agricultural practices in Europe.
Last year, the companies embarked on a feasibility study to evaluate the impact of regenerative agriculture practices in curbing carbon emissions, increasing biodiversity and improving soil health. They worked with oilseed rape farmers covering approximately 9,000 hectares in Poland to conduct an in-depth on-farm risk assessment that evaluated carbon emissions reduction potential while building grower-specific roadmaps for the transition to regenerative agriculture. This preliminary assessment showed that carbon emissions from those hectares relying on at least one regenerative agricultural practice were 15% lower than those of conventional farms. The analysis suggests that emissions reductions could be up to 40% for farmers comprehensively adopting regenerative agriculture practices.
As part of the next stage of the collaboration, the program will expand into a broader range of crops such as corn, wheat and barley, and geographically across Eastern Europe. Farmers will be provided with financial and technical support to implement qualifying regenerative agriculture practices, including:
Minimum Tillage
Cover Crops
Companion Crops
Nutrient Management
Use of Organic Matter/Manure
Crop Rotation
ADM will compensate participating farmers for each qualifying hectare, measured and verified using Bayer's digital capabilities in collaboration with Trinity Agtech's Sandy platform. The Sandy platform is a recognized solution backed by science that complies to the highest standards available in the market, with an easy-to-use tool for growers.
In addition to financial support, participating farmers receive agronomic guidance from specialized professionals. That support starts with a deep agronomical understanding of issues specific to each region in which the program is taking place, followed by individualized on-farm assessments, where agronomists visit fields and together with farmers design development plans tailored for each farm. Farmers are able to share their experiences with one another and discuss different techniques during field visits and peer learning opportunities.
The 2023 feasibility program was critical to shaping a larger-scale effort. Listening to the perspectives of growers was important to ensure all factors specific to the local region were considered. Primary data collection for greenhouse gas emission calculations and soil analysis with carbon sequestration measurement allowed the growers, ADM and Bayer to gain valuable insight into current environmental impacts and potential emission reduction opportunities as the program expands.
"We have been practicing regenerative agriculture for 15 years. We are constantly improving things. We tested first on a smaller area and based on the results, we decided to implement it on a larger area. Thanks to these activities, our carbon footprint is lower," said Karol Pietnoczka, a farmer from West Pomerania.
"We conduct regenerative agriculture practices on the farm because it is profitable for us. However, they must be well balanced with other agronomic practices to achieve farm-wide success," said Piotr Hulanicki, a farmer from Warmia-Masuria.
Candy Siekmann, director of Climate Smart Agriculture Origination at ADM, said, "Regenerative agriculture is foundational to our leadership in sustainability and decarbonization, and rolling out a regenerative agriculture program in Poland is an exciting next step in our efforts. Our own research shows that a significant majority of consumers would be more likely to trust and purchase from retailers and brands that implement regenerative agriculture practices, and by coming together with great partners like Bayer, we're helping farmers - who are at the heart of our business - meet that demand. We're looking forward to working with Bayer to promote an economically attractive model, where business and farmers can work together to build a more resilient, sustainable supply chain with a lower carbon footprint."
Lionnel Alexandre, Carbon Business Lead, EMEA for Bayer, said, "Developing a project with ADM in Europe on regenerative agriculture has a strong meaning for us as it showcases the importance of building a robust and committed value chain approach, where all players work for a common goal. Bayer's solution, combines digital, advanced science and agronomy capabilities, while leveraging the best experts and partners across Europe. This brings to our clients, such as ADM, the best assets to support first-in-class projects around regenerative agriculture."
About ADM
ADM unlocks the power of nature to enrich the quality of life. We're an essential global agricultural supply chain manager and processor, providing food security by connecting local needs with global capabilities. We're a premier human and animal nutrition provider, offering one of the industry's broadest portfolios of ingredients and solutions from nature. We're a trailblazer in health and well-being, with an industry-leading range of products for consumers looking for new ways to live healthier lives. We're a cutting-edge innovator, guiding the way to a future of new consumer and industrial solutions. And we're a leader in sustainability, scaling across entire value chains to help decarbonize the multiple industries we serve. Around the globe, our innovation and expertise are meeting critical needs while nourishing quality of life and supporting a healthier planet. Learn more at
www.adm.com
.
About Bayer
Bayer is a global enterprise with core competencies in the life science fields of health care and nutrition. In line with its mission, "Health for all, Hunger for none," the company's products and services are designed to help people and the planet thrive by supporting efforts to master the major challenges presented by a growing and aging global population. Bayer is committed to driving sustainable development and generating a positive impact with its businesses. At the same time, the Group aims to increase its earning power and create value through innovation and growth. The Bayer brand stands for trust, reliability and quality throughout the world. In fiscal 2023, the Group employed around 100,000 people and had sales of 47.6 billion euros. R&D expenses before special items amounted to 5.8 billion euros. For more information, go to
www.bayer.com
.
ADM and Regenerative Agriculture
ADM defines regenerative agriculture as an outcome-based farming approach that protects and improves soil health, biodiversity, climate and water resources while supporting farming business development. ADM's global regenerative agriculture programs feature direct financial support for farmers; easy processes and cutting-edge technologies to ensure low barriers to entry; and a broad range of support and guidance from both internal and third-party experts. A critical element of ADM's approach is the recognition that different parts of the world are facing different environmental challenges, so specific program qualifications and practices are tailored to address specific environmental challenges in different regions around the globe.
ADM recently announced that its global regenerative agriculture efforts reached more than 2.8 million acres in 2023, and that the company had increased its 2025 goal to 5 million acres.
https://www.adm.com/en-us/news/news-releases/2024/6/farmers-achieve-lower-carbon-emissions-with-the-help-of-a-new-regenerative-agriculture-collaboration-in-europe/
Bunge and CP Foods Pioneer Greater Transparency in Shipments of Deforestation-Free Soybeans Using Blockchain Technology - 10/6/2024
Bunge (NYSE: BG), a leading agribusiness and food company, and Bangkok Produce Merchandising Public Company Limited (BKP), a subsidiary of Charoen Pokphand Foods Public Company Limited (CPF or CP Foods), a world leader in food, jointly tested a traceability platform using blockchain technology for sustainable soy. To date, three shipments totaling 185,000 metric tons of deforestation-free soybean meal have been loaded in Brazil and are headed to Thailand, allowing CP Foods to trace the soybeans from farm origin, processing, transportation, to delivery at destination. Three additional ships carrying an additional 180,000 metric tons of soybean meal are expected for shipment by July 2024.
These products comply with Bunge's and BKP's socio-environmental supplier verification protocols and were grown in high priority regions with zero deforestation since 2020, aligning with the cutoff date determined in the sourcing standard developed by CP Foods. In addition to compliance with different socio-environmental criteria, the platform also offers customers access to information including the carbon footprint of the volumes sold and whether the farm has adopted regenerative agricultural practices.
Paisarn Kruawongvanich, Chief Executive Officer of Bangkok Produce Merchandising stated that the company is working to connect blockchain-based traceability solutions with suppliers, partners, and farmers across the world, ensuring transparency across its supply chain. "In the initial stages of our partnership with Bunge, we have shipped the first vessels of soybean meal verified deforestation-free, fully traceable from farms to their destination in Thailand for CP Foods. This marks a significant milestone for Charoen Pokphand Foods to achieve 100% deforestation-free supply chains by 2025," added Kruawongvanich.
"Adding a layer of blockchain technology improves the transparency in end-to-end traceability that Bunge has been doing for some years. This ability to increase end-consumer confidence in soy projects is only possible thanks to the robust supplier's socio-environmental verification and monitoring system that we have structured over the last decade, which uniquely positions us to provide the connection of proven sustainable products with markets where the demand for them is increasing," says Rossano de Angelis Jr., Bunge's Vice President of Agribusiness in South America.
The two companies have been collaborating since October 2023, when they announced a partnership to develop technical, commercial and operational feasibility studies for a blockchain traceability solution aimed at building a sustainable and digitally integrated supply chain. The agreement involves oilseeds and their by-products sourced by Bunge in Brazil destined for several countries in Asia, where BKP and CP Foods produce and sell feed and food.
The ongoing tests aim to automate the connection between Bunge and BKP's supplier management and socio-environmental monitoring systems with a digital platform. This enables the customer to monitor and receive product traceability data, in addition to accessing socio-environmental information from the sourced farms. The blockchain technology ensures an additional layer of reliability, as it makes data immutable once it enters the platform.
For Bunge's Distribution Director in Asia, Mohit Purbey, the deep and trusting relationship Bunge has built with CP Foods over the years was key to the project. "It is also an example of how Bunge can create tailored solutions to help our customers fulfill their own sustainability commitments," he adds.
Since the end of 2022, Bunge's supplier monitoring system covers more than 16,000 farms, around 20 million hectares, in South America and features state-of-the-art satellite technology, capable of identifying changes in land use and soybean planting on each monitored property. In Brazil, Bunge currently monitors its entire direct suppliers in areas at risk of deforestation and is expecting to fully cover the indirect suppliers in 2025. More than 97% of the volume of soy sourced by Bunge in the country is deforestation and conversion free, which brings the company closer to its goal of achieving deforestation-free chains in 2025.
About Bunge
At Bunge (NYSE: BG), our purpose is to connect farmers to consumers to deliver essential food, feed, and fuel to the world. With more than two centuries of experience, unmatched global scale, and deeply rooted relationships, we work to strengthen global food security, increase sustainability where we operate, and help communities prosper. As a leader in oilseed processing and a leading producer and supplier of specialty plant-based oils and fats, we value our partnerships with farmers to bring quality products from where they're grown to where they're consumed. At the same time, we collaborate with our customers to develop tailored and innovative solutions to meet evolving dietary needs and trends in every part of the world. Our Company has its registered office in Geneva, Switzerland, and its corporate headquarters in St. Louis, Missouri. We have approximately 23,000 dedicated employees working across approximately 300 facilities located in more than 40 countries.
https://bunge.com/Press-Releases/Bunge-and-CP-Foods
Latest Research
Rise and demise of chemical used for Australian grain protection with a focus on New South Wales
Robert Ryan and Bernard C Dominiak
Abstract
Malathion is a key insecticide for the treatment of stored grain pests but its continued use patterns are under review by regulatory authorities. In this literature review, we reflect on grain storage protection issues in Australia but with a focus on New South Wales. Any grain stored for extended times is likely to become infested with storage insect pests. We review storage and export issues in early Australia and observe the challenges and changes created by two world wars, the depression and boom production years. Modern grain protection started with the use of malathion, however the detection of malathion resistance necessitated the introduction of other insecticide options. Fumigants were developed but these also suffered from the onset of resistance. The efficacy of insecticides and fumigants could be improved through combination with other gases or insecticides with different modes of action. Finally, we review the pesticides registered for grain insect pest control and speculate on prospects for grain protection.
https://search.informit.org/doi/abs/10.3316/informit.T2024050900001800492650015
The Industry
Australian crop production could see a reduction in 2023/24: Grain market daily
Market commentary
UK feed wheat futures (May-23) closed yesterday at £227.50/t, gaining £2.50/t on Wednesday's close. New crop (Nov-23) futures closed at £228.55/t, gaining £1.05/t over the same period.
Domestic wheat market followed both the Paris and Chicago wheat market up yesterday. The market was supported from bargain buying and some concerns over the Black Sea export deal continuing. Russia continues to question the West's approach to the deal, with sanctions on Russia impacting the export of their own commodities. As news evolves, this will cause short-term volatility to grain markets, but prices have been dropping since mid-February on optimism of the deal continuing.
Yesterday, Graincorp estimated that Australia's 2023/24 wheat crop is likely to be around 25-26Mt as the crop could face risks from the potential El Niño weather event - read more information below on this.
Paris rapeseed futures (May-23) closed at [euro]531.00/t yesterday, gaining [euro]2.50/t on Wednesday's close. Rapeseed followed the gains in the Chicago soyabean market.
The Buenos Aires Grain Exchange announced yesterday that there will be further cuts to Argentina's soyabean crop from drought impact - currently the Exchange forecast the crop at 33.5Mt, down from the 48Mt estimated that the start of the cropping cycle. Further cuts are expected.
Australian crop production could see a reduction in 2023/24
As we head deeper into the second half of the 2022/23 marketing year (July to June), markets are becoming more and more concerned on the grain supplies for the 2023/24 marketing year (next season). We have had three successive years of La Niña weather events in the South Pacific, and it's anticipated that in the coming months the El Niño-Southern Oscillation (ENSO) will turn into a "neutral" phase (90% chance). There is an increased likelihood of an El Niño (warming of ocean temperatures) event for the 2023/2024 season, but currently this is still early days.
Why is this transition important? The La Niña event we have been experiencing for the last three years has meant that Australia have produced large record crops of wheat, barley and canola (rapeseed) for the last three years, which to some extent has been a supply plug to the global market and stopped stocks-to-use tightening further.
If the South Pacific does warm into an El Niño weather event this year this could potentially have impacts on Australia's crops. The event usually means that rainfall is reduced through Australia's winter and spring, particularly across the Eastern and Northern parts of the continent. Also, warmer-than-average temperatures across most of Southern Australia, particularly during the second half of the year (ABARES).
As the graph above shows, there is a correlation between El Niño and Australia's yields of major crops. We can see that these years there is a reduction in yields, such as 1994/95, 2002/03 and 2006/07 appear to see the largest reductions, which were all El Niño years. However, what is worth noting, the link is not absolute. For example, 2015/16 was a "very strong" El Niño year and Australia's wheat crop marginally reduced on the year and their barley actually increased year-on-year.
To conclude, if the South Pacific does enter an El Niño, there could possibly be impacts on Australian crop production which will give the potential to add some support to global grain prices, due to Australia's market share of the exports. Winter cropping plantings will start in April, and by that point there will be more information on whether the ENSO "neutral" will be turning towards an El Niño. However, it's too early currently to over sensationalise whether there will be colossal cuts to Australian grain output for 2023/24 marketing year, as there is a lot of weather to play out.
Source: Agriculture and Horticulture Development Board
https://ahdb.org.uk/news/australian-crop-production-could-see-a-reduction-in-2023-24-grain-market-daily
Grains Research and Development Corporation (GRDC)
What we do
The Grains Research and Development Corporation (GRDC) is one of the world's leading grains research organisations, responsible for planning, investing in and overseeing RD&E to deliver improvements in production, sustainability and profitability across the Australian grains industry.
The GRDC's primary objective is to drive the discovery, development and delivery of world-class innovation to enhance the productivity, profitability and sustainability of Australian grain growers and benefit the industry and the wider community.
The GRDC is a statutory corporation, founded in 1990, under the Primary Industries Research and Development Act 1989 (PIRD Act), it is subject to accountability and reporting obligations set out in the Public Governance, Performance and Accountability Act 2013 (PGPA Act). The GRDC's portfolio department is the Australian Government Department of Agriculture.
The functions of the GRDC under the Act include coordinating or investing in R&D activities; monitoring, evaluating and reporting on the impact of R&D activities on the grains industry and the wider community; and facilitating the dissemination, adoption and commercialisation of the results of R&D.
Our industry
Grains and oilseeds are Australia's largest category of food exports, representing 24 per cent of total agricultural exports. Grain farming spans diverse landscapes, each with its own unique climatic and geographical challenges. Despite this, Australian growers are highly competitive internationally, while also supplying high-quality products for domestic consumption.
Key statistics
$9 billion (annual farm gate value)
34 million tonnes (total annual production)
20 million hectares (farmland sown to grains)
Productivity growth
A strong culture of innovation has driven sustained productivity growth. Beginning in the late 1970s, productivity increased by an average of 1.9 per cent p.a. over three decades - well above rates for Australian industry as a whole.
Growth drivers
Better grain varieties and improved agronomy
More efficient machinery
Better business decisions
Current outlook
Recent productivity growth has slowed - partly due to prolonged drought. A continuing decline in growers' terms of trade has created renewed impetus for higher levels of productivity growth.
Growing regions
Australia's grains industry comprises of three main regions, each with different climate and soil characteristics and diverse management requirements. Each region is divided into a series of zones based on specific ecological attributes.
While all regions produce mainly winter cereals, other significant crops are pulses and oilseeds.
Northern region
Encompasses Queensland and New South Wales
Generally high soil fertility
High crop diversity (includes wheat, maize, sorghum, barley and oilseeds)
Yield largely dependent on conserving soil moisture from summer rainfall
Regional demand for livestock feed is a key production driver
Southern region
Includes Victoria, Tasmania and south-eastern South Australia
Generally lower fertility soils
Yield largely dependent on autumn and spring rainfall
Varied crop production systems, including mixed farming enterprises
Western region
Comprises cropping areas of Western Australia
Low yield, large scale farming
Yield largely dependent on winter and spring rainfall
Dominant crops are wheat, barley, canola and lupins
Exports 85 per cent of Australia's grain production
Source: Grain Research & Development Corporation
https://grdc.com.au/about/what-we-do
https://grdc.com.au/about/our-industry
Australian Oilseeds Federation
"AOF is the peak industry body for the Australian oilseeds value chain embracing consumers of food, feed, health and industrial products." AOF Vision - Strategic Plan 2010
The Australian Oilseeds Federation Inc. (AOF) was established in 1970 to represent the common interests of all Australian oilseed industry participants and to promote the development, expansion and improvement of Australian oilseed production. The AOF represents players across the total oilseed supply chain including:
Service Providers / Research, Development & Extension
Growers
Traders/Marketers (domestic and export)
Processors (crushers, refiners, manufacturers)
Consumers
AOF Value through service
The Australian Oilseeds Industry stands on a new era of growth and development. Through improved productivity and quality, product-mix and supply-chain efficiency it has the potential to grow from the current $2.5 billion to $3.3 billion by 2015. Since its inception in 1970, AOF members have consistently supported the Federation in its many vital and necessary functions in realizing this growth.
AOF acts as a leader and facilitator. It provides direction to the industry improves communication and secures stronger linkages within the industry for the betterment of the industry.
AOF delivers a range of services focused on enhancing industry growth and competitiveness and providing high value to members.
The range of services includes:
Industry issue lobbying and representation
Facilitating improved market access/export development
Industry training/education
Standards and protocols for trading and handling of oilseeds and oilseed products
Strategic plan and industry goals identification and implementation
Increasing industry awareness of innovations and potential opportunities
Information and communication to/amongst the key interest groups
Promoting Australian grown and Australian made oilseeds and oilseed products
Oilseed related R&D with government, industry and R&D bodies
Promoting environmentally responsible practices within the oilseed industry
AOF works for the benefit of the whole industry and, as such, its activities are based on:
effective positioning of the industry for competitive advantage
sound understanding of the needs of members
being flexible and responsive
taking account of the needs of consumers for seed, oil and meal
ensuring accountability and good corporate governance
The AOF provides services to the industry to help communicate the nature of and shape the environment in which the industry operates. AOF acts as a leader and facilitator to provide direction to the industry, improve communication and linkages between the industry and catalyse the industry to work together for the betterment of the industry. It responds to community wide issues on behalf of the industry and provides an independent and credible voice for the industry.
The AOF's current strategic plan - Growth through Cooperation - sets out the focus and activities for the AOF over the next three years that will help the industry maintain sustainable growth in the face of the changes occurring in its local and global environment.
The values that underpin the AOF's activities are:
equal participation for all members
complete industry integration
partnerships with the commercial sector
The AOF vision is to assist the Australian oilseed industry position itself as:
profitable for all sectors
one with a vibrant and viable value adding sector
dynamic with the ability to maximise opportunities within a continually changing environment
one that is growing through replacement of imports and increasing exports
The AOF is active in assisting the Australian oilseed industry to be a responsible, viable, world class producer, processor and marketer of quality oilseeds and products; and in encouraging innovation and investment in research, development and extension.
The AOF is the peak oilseed industry body representing all segments of the industry. Its functions are:
Administration
Industry issue lobbying/government representation - market access/export development
Industry training/education
Standards and protocols for trading and handling of oilseeds and oilseed products
Consumer education
Set and manage the strategic plan and industry goals
Increase industry awareness of innovations and potential opportunities
Information and communication to/amongst the key interest groups
Promote Australian grown and Australian made oilseeds and oilseed products
Oilseed related R&D with government, industry and R&D bodies
Promote environmentally responsible practices within the oilseed industry
Source: Australian Oilseeds Federation
http://www.australianoilseeds.com/about_aof
Barley Australia
Who We Are:
Barley Australia is the peak industry body for barley, established in early 2005, and seeks to represent the interest of all stakeholders of Australia's barley industry.
NB: Barley Australia is an Association of member companies. As such, Barley Australia itself, does not trade, nor sell, nor export barley, nor malt.
Our Growers - Our Markets
Barley Australia delivers leadership to increase the value and enhance the sustainability of Australia's barley industry.
We will achieve this by addressing the following key activities:
Providing timely and credible industry-specific information
Managing the malting barley accreditation process
Providing stewardship for the barley classification system
Providing barley industry relevant communication and education
Connecting with industry bodies on trade issues
Guiding R&D investors and research providers on priorities
Source: Barley Australia
https://www.barleyaustralia.com.au/who-we-are
https://www.barleyaustralia.com.au/barley-australia-vision
GrainGrowers
GrainGrowers is a leading voice for Australian grain farmers, representing their interests at a national and international level.
GrainGrowers strives to be a strong and influential voice, setting the agenda for change on national issues which will benefit grain farmers now and into the future. We work with progressive and profit-focussed farmers to drive positive change and advance their agenda both nationally and internationally.
Investing in the future capacity of the industry, GrainGrowers also plays a lead role in developing and supporting innovative grower leaders through a range of flagship initiatives.
If you're a grain farmer, we invite you to become a free member and join with 17,000 other members across Australia to help shape the future and drive positive change for the Australian grains industry.
Our Beginnings
In 1956 a group of growers gathered around a kitchen table in North Star, NSW to discuss the need for a premium payment for the high quality, high protein wheat they were growing in the region. At the time, wheat was sold as an undifferentiated commodity with no incentive to growers to grow better quality to meet different customer needs. The growers from North Star and Croppa Creek resolved to band together to form an association to lobby for change. The Premium Wheatgrowers Association (PWA) was formed in 1958 with an office in Narrabri.
After much hard work, PWA was ultimately successful and the principles of segregation and premium payment in the bulk handling system were accepted.
From this organisation Grain Growers Ltd, trading as GrainGrowers, was founded and in 2018 celebrates its 60th Anniversary.
We were founded to work on an issue which grain farmers had identified as important to the sustainability and profitability of their farming businesses. Over the years we have continued to be influential in working on issues identified by growers to realise value in the industry. We have a proven track record of success in unlocking real returns for growers and the wider industry.
Source: GrainGrowers
https://www.graingrowers.com.au/
https://www.graingrowers.com.au/about/
Who We Are?
Grain Producers Australia (GPA) represents Australia's broadacre, grain, pulse and oilseed producers at the national level. Broadly stated, GPA was created to foster a strong, innovative, profitable, globally competitive and environmentally sustainable grains industry in Australia.
The objectives of GPA are to establish a strong independent national advocate for grain producers based on a rigorous and transparent policy development process; engage all sectors of the Australian grains industry to ensure operation of the most efficient and profitable grain supply chain; and facilitate a strategic approach to Research, Development and Extension (RDE) intended to deliver sound commercial outcomes from industry research.
GPA is the ultimate outcome of two grains industry roundtables run by Grains Council of Australia (GCA) in October 2009 and February 2010. GCA was the former recognised peak national grain producer representative body and initiated the roundtables because it had been crippled by a fractured membership and severely limited in its financial capacity for several years. The GCA membership and funding model relied heavily on state farming organisations (SFOs).
GPA is a not for profit company limited by guarantee and is accountable to its members through board elections and annual review of operations. The GPA Board is directly accountable to grain producers in the same way a corporate board is accountable to its shareholders. The charter of the GPA Board is to provide representation for Australia's grain producers and to foster a culture of service within GPA.
GPA has voluntary membership drawn directly from the community of grain producers. The members pay an application fee and an annual subscription fee which are intended to be the main source of funds for GPA. This funding model provides an equitable system where all producers can contribute to the advocacy at a national level and alleviate the financial burden on the state based groups to fund the national structures.
Source: Grain Producers Australia
http://www.grainproducers.com.au/component/k2/item/34-who-we-are??Itemid=135
Grain Trade Australia
Grain Trade Australia (GTA) is the focal point for the commercial grains industry within Australia and acts to ensure there is an efficient, equitable and open trading environment given the prevailing industry structure in place.
GTA is non-political
GTA is industry driven and managed
The primary focus for GTA is to provide the commercial rules and grain trading standards that are used across the entire Australian grain industry.
GTA was formed in 1991 to standardize grain trading standards, trade rules and grain contracts across the Australian grain industry to enable to efficient facilitation of trade across the grain supply chain. GTA's has over 260 organisations as members ranging from regional family businesses to large national and international trading/storage and handling companies.
The vast majority of:
Grain contracts executed in Australia refer to GTA grain trading standards and/or trade rules; and
Grain storage and freight movements are made by GTA members.
Grain Trade Australia Ltd changed its name in 2009, to better reflect the position of the organisation within the industry.
GTA CORE FUNCTIONS
GTA's role is to ensure the efficient facilitation of commercial activities across the grain supply chain. It achieves this by providing the industry with some key tools.
GTA Grain Trading Standards
GTA develops and publishes the wheat and coarse grain trading standards for the industry and distributes the standards for oilseeds (developed by Australian Oilseeds Federation), pulses (developed by Pulse Australia) and birdseed as developed by the Queensland Agricultural Merchants.
These standards are the basis of trade for domestic and export contracts.
Key points
Vision
An efficient, equitable and open commercial grain industry in Australia
Mission
To facilitate trade by providing products, services and advocacy for the Australian grain value chain
Structure
GTA is non-political
GTA is member driven and managed
Source: Grain Trade Australia
http://www.graintrade.org.au/sites/default/files/Publications/001%20About%20Grain%20Trade%20Australia.pdf
Pulse Australia
Pulse Australia is a peak industry body that represents all sectors of the pulse industry in Australia, from growers and agronomists through to researchers, merchants, traders and exporters.
It is unique in that it is an independent, non-political and whole of industry organisation, which acts as a catalyst for the development of the pulse industry.
A Board of Directors
is nominated from across the industry and provides direction and vision. Directors bring skills and knowledge from many areas of interest including pulse farming, pulse research, seed merchandising, marketing and exporting. The Grains Research and Development Corporation also nominates one director.
Our mission
Our charter is to provide coordinated leadership to the Australian pulse industry and to facilitate activities that will achieve improved profitability for all sectors of the industry.
Pulse Australia's broad long-term goals are to:
Distinguish Australian pulse products in the international market place.
Develop and maintain existing and new markets.
Address any weak links in the pulse value chain.
Provide coordinated leadership and planning.
Encourage world's best practice throughout the whole industry.
Foster and maintain grower confidence.
Ensure a reliable production base of consistent and safe pulse crops that meet customer requirements.
Pulse Australia takes a three pronged approach to ensure that the overall objectives are met in all areas of the industry.
Crop support: Qualified field staff provide the catalyst for coordination or information across state and institutional boundaries - actively supporting farmers to ensure confidence, sustainability and consistency of pulse production.
Industry support: Fundamentally about filling the gaps. That is, the provision of the means to create essential linkages along the value chain.
Market support: Providing a single voice for industry in the areas of market access and development, negotiating with governments and other industry bodies both domestically and internationally.
Crop support
The Pulse Australia crop support team works in cooperation with the Grains Research and Development Corporation to develop agronomic management packages and provide training for agronomists and farmers.
The support team includes highly qualified agricultural scientists and agronomists who primarily work in the field. These specialists work across geographic and institutional boundaries to coordinate information flow, ensuring that it reaches agronomists and farmers at the earliest possible time. They are also key players in providing information from the field that may influence varietal development and crop selection for particular regions. Pulse Australia also works with farmers, merchants, chemical companies, state government departments of agriculture and the Australian National Registration Authority to gain limited use registrations or permits for chemicals not otherwise legally available for use on pulses.
Pulse Australia has also developed a HACCP based quality assurance program with whole of industry input for those growers who need such a tool to access specific markets.
Disease management
Crop selection + management
Coordination of varietal development + research
Chemical registrations
Cross region communication
Liaison with state departments of agriculture
Food safety and quality issues
Industry support
Pulse Australia works to coordinate activities across all sectors of the industry.
A sophisticated communications program, including a high profile web site, regular newsletters and bulletins, ensures that all sectors of the industry are kept informed of current and relevant topics. Pulse Australia acts as the focal for liaison between the industry and governments, both domestically and internationally, in areas such as market access, tariffs, quarantine and other trade issues. Regular forums are held with regional pulse groups and other industry bodies around the country. The Pulse Australia Standards Committee develops receival standards for all pulse products within Australia, aimed at meeting the requirements of the export trade.
Communication
Products + services
Regional pulse groups
Cross industry relationships
Government + other peak bodies liaison
International liaison
Food safety + quality issues
Market support
As well as international collaboration through the world peak body CICILS/IPTIC (Confederation Internationale du Commerce et des Industries des Legumes Secs/International Pulse Trade Industry Confederation), Pulse Australia is actively involved in the promotion of pulses in specific markets and the development of long term secure value chain relationships.
Pulse Australia is recognised around the world as the peak body of the Australian pulse industry and, as such, is best placed to address tariff and other trade impediment issues that may arise from time to time. Pulse Australia cooperates very closely with relevant Australian government departments to ensure recognition of the quality and integrity of Australian pulses in the international marketplace. A list of
traders and handlers
who support Pulse Australia and its values can be found on this web site.
Value add (promote)
Change grower + market attitude
Address tariff + other trade impediments
International collaboration
Food safety + quality issues
Increase / improve product integrity
http://www.pulseaus.com.au/about/corporate-profile
About
Wheat Quality Australia is an independent company that classifies wheat varieties according to distinct quality attributes, for processors and end product use. Wheat Quality Australia is also the owner and producer of Australia's Wheat Variety Master List.
What we do
Wheat Quality Australia is responsible for maintaining and growing the reputation of Australian wheat as a high quality product, by using its accountable, transparent and sustainable wheat classification system.
The Wheat Quality Australia Wheat Variety Classification Panel assesses new wheat varieties to determine their processing and end product suitability (for qualities such as milling extraction, dough balance, baking performance and noodle colour and texture), to meet key market requirements.
The Wheat Quality Australia Classification Council represents the entire value chain of wheat production in Australia, and uses this engagement to constantly improve the classification system in response to the needs of the market.
The Wheat Variety Master List, is the primary output of the classification system and is the foundation for wheat quality management in Australia.
What is Wheat Quality
Wheat quality refers to the performance of grain to meet the requirements of its use in flour milling, breads, noodles, cereals, pasta or animal feed. Quality is determined by the genetic attributes of the variety grown and the environmental conditions during crop growth.
Why is Wheat Quality classification important?
Classification identifies varieties with the proven capability to deliver the requirements of each class, creating a solid foundation for consistent processing and end product performance. This foundation, along with Wheat Standards, which are designed to ensure defects and contamination are absent, gives customers an assurance that Australian Wheat is of the highest quality.
Source: Wheat Quality Australia
https://wheatquality.com.au/about/
Leading Companies
Archer Daniels Midland Group
About ADM Australia
The Archer Daniels Midland Group in Australia includes companies that are subsidiaries of Archer Daniels Midland Company (NYSE: ADM) registered in Australia and operating under the Archer Daniels Midland or ADM brand.
Our Company
For more than a century, the people of Archer Daniels Midland Company (NYSE: ADM) have transformed crops into products that serve the vital needs of a growing world. Today, we're one of the world's largest agricultural processors and food ingredient providers, with approximately 40,000 employees serving customers in nearly 200 countries. With a global value chain that includes approximately 450 crop procurement locations, more than 330 food and feed ingredient manufacturing facilities, 62 innovation centers and the world's premier crop transportation network, we connect the harvest to the home, making products for food, animal feed, industrial and energy uses.
https://www.adm.com/our-company
At ADM, everything we do starts with you.
As the world's population grows, so does demand for quality foods, feed ingredients for livestock, alternative fuels, and environmentally friendly alternatives to traditional chemicals. As one of the world's leading agricultural processors, ADM plays a pivotal role in meeting all of these needs.
We produce the food ingredients, animal feeds and feed ingredients, biofuels and other products that manufacturers around the world use to provide wholesome food and a better life to millions of people around the globe.
In Australia everything we do starts with you, the Australian grain producer. We originate grain, oilseeds and pulses from the farmer, arrange the logistics and supply direct to our domestic and international customers by road, rail, container, and/or bulk shipments. Our regionally based Accumulation Managers are the core of our buying strength supporting Australian farmers and their grain marketing needs.
http://www.admgrain.com.au/
About ADM Australia
Since 1991, ADM Australia has served customers throughout the Pacific Rim, including New Zealand and the South Pacific, with a range of specialty food, feed and industrial ingredients made from corn, soy and wheat. ADM employs 45 people in Australia.
Grain Merchandising
ADM's grain merchandising business, based in Adelaide, originates Australian wheat, barley, canola, sorghum and pulses, serving both domestic and international customers. The business was formerly part of Alfred C. Toepfer International, a global merchandiser of agricultural commodities and processed products, which ADM acquired in 2014.
ADM can provide export solutions for both bulk and containerized products from all grain exporting ports in Australia. ADM often sources commodities directly from growers located in the main cropping areas of Australia, supported by ADM's national grain origination network.
Food
ADM's ingredient business has sales offices in Sydney and Melbourne, as well as distribution centres in Sydney, Melbourne, Brisbane, Perth, Adelaide and Darwin. We also work with a national logistics company, which enables us to efficiently serve customers throughout the country.
For bakery, beverage, confectionary, dairy and other applications, we offer the following ingredients:
Acidulants
Fibersol® -2 dietary soluble fiber
Lecithin
Natural-source vitamin E
Phytosterols
Polyols and Gums
Soy proteins
Sweeteners
Wheat protein isolates
Animal Feed
For the animal feed industry, we offer specialty feed ingredients, such as lysine, threonine and soy protein concentrate, which are used primarily in chicken, fish and pig feeds.
Industrials
For industrial products, we offer a wide variety of solutions, including bio-based Propylene Glycol and Glycerol.
Partnerships
A key part of ADM's Asia strategy today is our strategic ownership interest in Wilmar International Limited, Asia's premiere agricultural processing business, which has locations in Australia, China, India, Indonesia, Japan, Malaysia and Singapore, and in other parts of the world. Wilmar operates palm plantations; crushing facilities for various types of oilseeds; vegetable oil refineries and packaging facilities; plants that produce oleo chemicals, soy proteins and fertilizers; and multiple wheat and rice milling facilities.
https://www.adm.com/adm-worldwide/australia
ADM Reports First Quarter 2024 Results, Affirms Full-Year EPS Guidance
4/30/2024
Reported EPS of $1.42, Adjusted EPS1 of $1.46
ADM (NYSE: ADM) today reported financial results for the quarter ended March 31, 2024.
First Quarter 2024 Highlights
Segment operating profit of $1,311 million, adjusted segment operating profit1 of $1,317 million
Trailing four-quarter average adjusted return on invested capital (ROIC)1 of 11.2%
"ADM's solid first quarter results showcased our team's ability to execute our strategy with agility in the face of anticipated challenging market conditions," said Chair of the Board and CEO Juan Luciano.
"To manage through the cycle, we are driving key strategic initiatives across the business, including the ramp-up of production at our Green Bison JV and the scaling of our regenerative agriculture and BioSolutions efforts. Our productivity initiative pipeline is also expanding and we are already seeing the results of our actions to reduce supply chain complexity and better serve our customers in Nutrition as the segment delivered sequential quarterly improvement in operating profit. Our capital deployment actions such as our accelerated share repurchase program also continue to contribute to enhanced shareholder returns. Driving these priorities forward, we remain confident in our guidance for the year."
Summary of First Quarter 2024
For the first quarter ended March 31, 2024, earnings per share on a GAAP basis were $1.42. Segment operating profit on a GAAP basis was $1,311 million and included charges of $6 million, or approximately $0.01 per share, related to impairments and restructuring.
Adjusted segment operating profit was $1,317 million for the first quarter, a 24% decrease versus the prior year period. Adjusted earnings per share were $1.46. Lower pricing and execution margins led to a decline of $1.00 per share versus the prior year period, largely reflecting the impact of lower crush and origination margins, as well as lower mark-to-market timing impacts of $0.38 per share. Improved input and manufacturing costs, primarily related to lower energy costs, led to an increase of $0.15 per share versus the prior year. Volume improvement represented a $0.20 per share increase versus the prior year period, primarily reflecting higher processed volumes in AS&O. Higher equity earnings led to a $0.07 per share increase in the first quarter of 2024 versus the prior year period.
Ag Services and Oilseeds Summary
AS&O segment operating profit was $864 million during the first quarter of 2024, down 29% compared to the prior year period. The Ag Services subsegment operating profit was 33% lower, primarily due to the stabilization of trade flows leading to lower Global Trade and risk management results in comparison to the prior year. Slower farmer selling also negatively impacted export volumes and margins in South America. In the Crushing subsegment, operating profit was 27% lower versus the prior year as increased imports of used cooking oil and the anticipation of large South American supplies negatively impacted North American soy crush margins. During the quarter, there were positive mark-to-market timing impacts of approximately $40 million versus approximately $240 million of positive impacts a year ago. Refined Products and Other (RPO) subsegment results of $170 million were lower versus the prior year, as the increased imports of used cooking oil negatively impacted refining margins in North America. During the quarter, there were negative mark-to-market timing impacts of $30 million versus positive impacts of approximately $40 million in the prior year period. Equity earnings from Wilmar were $149 million during the first quarter, approximately 37% higher than the prior year.
Carbohydrate Solutions Summary
Carbohydrate Solutions segment operating profit was $248 million during the first quarter of 2024, down 11% compared to the prior year period. The Starches & Sweeteners subsegment decreased $52 million, as strong starches and sweeteners margins were offset by lower domestic ethanol margins due to strong industry production and elevated stocks, as well as moderating margins in the EMEA region. In the Vantage Corn Processing (VCP) subsegment, results improved $21 million as strong demand for sustainably certified exports of ethanol supported volumes and higher margins.
Nutrition Summary
Nutrition segment operating profit was $84 million during the first quarter of 2024, down 39% compared to the prior year period. Human Nutrition subsegment operating profit was $76 million, approximately $62 million lower versus the prior year period, as impacts related to unplanned downtime at Decatur East and a normalizing texturants market negatively impacted margins. In the Animal Nutrition subsegment, operating profit of $8 million was higher year-over-year as cost optimization efforts and lower input costs bolstered margins.
Other and Corporate Summary
For the first quarter, Other segment operating profit was $121 million, up 25% compared to the prior year, supported by higher Captive Insurance results due to higher program premiums and lower claims. ADM Investor Services results improved on higher net interest income.
In Corporate, unallocated corporate costs increased versus the prior year on higher global technology investments to support digital transformation efforts and increased legal fees. Other Corporate was unfavorable compared to the prior year due to investment valuation losses of approximately $18 million in our ADM Ventures portfolio.
Outlook
The Company affirms its previously provided EPS guidance for the full year. ADM continues to expect adjusted earnings per share2 in the range of $5.25 to $6.25 for the full year.
https://www.adm.com/en-us/news/news-releases/2024/4/adm-reports-first-quarter-2024-results-affirms-full-year-eps-guidance/
Bunge Agribusiness Australia
Bunge is a leading marketer of Australian grains focusing on exporting Australian grains to global destinations. Bunge Australia is a division of Bunge Limited, which is a leading global agribusiness and food company operating in over 40 countries with approximately 35,000 employees. We are committed to the Australian grains industry and have made significant investments in Western Australia, having built an export Port Terminal in Bunbury, and two grain receival facilities at Kukerin and Arthur River. Bunge is also an active participant in grain markets in South Australia and the East Coast with head office operations in Melbourne.
http://bunge.com.au/
Bunge Reports First Quarter 2024 Results
St. Louis, MO - April 24, 2024 - Bunge Global SA (NYSE: BG) today reported first quarter 2024 results
Q1 GAAP diluted EPS of $1.68 vs. $4.15 in the prior year; $3.04 vs. $3.26 on an adjusted basis excluding certain gains/charges and mark-to-market timing differences
In Agribusiness higher Processing results were more than offset by lower results in Merchandising
Refined and Specialty Oils down from a strong prior year
Significant progress on Viterra integration planning and other growth initiatives
Repurchased $400 million of shares during the quarter
Maintaining adjusted full-year EPS outlook of approximately $9.00
Overview
Greg Heckman, Bunge's Chief Executive Officer, commented, "We are pleased with our first quarter results, which reflect our team's strong execution in a more balanced market environment. During the quarter we invested further in our pipeline of growth projects and made excellent progress on integration planning for our announced combination with Viterra."
"While we are off to a strong start, we continue to have limited visibility into the back half of the year. However, we are confident in our team's ability to stay agile and capture opportunities ahead of us as we remain focused on delivering on our mission of connecting farmers to consumers to deliver essential food, feed and fuel to the world."
https://bunge.com/Press-Releases/Bunge-Reports-First-Quarter-2024-Results
Cargill Australia
About Cargill in Australia
Cargill's presence in Australia was first established in 1967 and has continued to grow through ongoing investment in the Australian agriculture and food industries. We now employ over 520 employees in more than 40 locations. The main business operations include: grain and oilseed origination, storage and handling; oilseed and malt barley processing; vegetable oil refining; trading and marketing of grains, cotton & oilseed products domestically and for export; procuring food ingredients in to Southeast Asia; sales of Cargill cocoa & chocolate products to the domestic market; and joint ventures in beef and storage and handling.
Malt
Cargill acquired Joe White Maltings in 2013. Joe White Maltings was established in the 1850s and has a long and distinguished history. As a result Cargill is the largest malt producer in Australia with six plants strategically located across the country. We supply malt to the domestic market as well as exporting to brewers in Asia Pacific and Africa.
Grain and Oilseeds
Cargill Australia is a major marketer of Australian grain and oilseeds to supply our crush plants and domestic/international customers in the food processing, animal feed and meat industries. Cargill Australia processes 700,000 tonnes of canola, cottonseed, sunflower seed and soybeans annually at its three crush plants in Australia, producing protein meal and vegetable oils for the feed and food industries.
Cargill Australia also provides a range of differentiated price risk management and logistical solutions to help customers thrive. Cargill's extensive network of international trading offices provides comprehensive access to global markets for Australian grown grain and oilseeds.
AWB Origination
The AWB Origination business was formed in 2011 when Cargill Australia acquired the trading and origination arm of AWB. AWB originates grain, oilseeds and pulses on behalf of Cargill Australia. The company has an extensive field origination networks with 20 farm marketers located across the Australian grain belt. AWB farm marketers partner with farmers to provide them with access to our wide range of marketing and risk management tools.
GrainFlow
GrainFlow operates a network of 22 storage centres in Queensland, New South Wales, Victoria and South Australia. These sites provide efficient and cost effective receival, storage and outturn of large quantities of bulk grains and oilseeds.
Cargill Australia has a storage and handling facility joint venture with BFB Pty Ltd at Temora in New South Wales.
Refined Oils
Cargill Australia's vegetable oil refinery is located in Newcastle, New South Wales. The operation refines, bleaches and deodorises canola, sunflower, soybean and cottonseed oils as well as imported palm olein and stearine.
The Cargill refinery in Newcastle is fully integrated with existing multi-seed crush facility. This integrated crush and refinery is conveniently located on the Newcastle port and meets Australian Quarantine and Inspection Service requirements for processing imported oilseeds.
Cargill distributes its high quality oils and shortenings throughout the country to some of Australia's premier food companies.
Risk Management
Cargill Risk Management (CRM) works with customers to understand their business objectives, pricing needs and market views to create tailored risk management solutions which mitigate risks and uncertainly by having a more diversified pricing portfolio.
Globally, CRM serves customers in 71 countries across more than 50 markets, including grains, meats, soft oils, proteins, energy, metals, dairy and foreign exchange markets. CRM in Australia has offices in Melbourne and Sydney and strives to provide risk management solutions at both the corporate and agricultural producer level. The focus of CRM's activity in Australia is in grain, oilseeds, fibre and sugar markets.
Cotton
Cargill Australia established a cotton marketing business in 2000. This business has established a strong presence in the Australian market by providing marketing tools to cotton growers through a network of regional representatives in Queensland and New South Wales. International cotton processors are serviced with Australian cotton through Cargill's extensive network of marketing offices around the world.
Cocoa & Chocolate
Cargill recently established a sales office in Melbourne Australia to sell Cargill cocoa & chocolate products to the domestic market.
Starches, Sweeteners & Texturizing Solutions
Cargill offers a range of quality starches, sweeteners and texturizing solutions to the domestic market.
https://www.cargill.com.au/en/about-cargill
CBH Group
About CBH
The CBH Group is Australia's largest co-operative and a leader in the Australian grain industry, with operations extending along the value chain from grain storage, handling, transport, marketing and processing.
Owned and controlled by approximately 3,900 Western Australian grain growing businesses, the core purpose of the CBH Group is to sustainably create and return value to growers.
Since being established in Western Australia in 1933, CBH has continuously evolved, innovated and grown.
Its storage and handling system currently receives and exports around 90 per cent of the Western Australian grain harvest and is regarded as one of the best in the world.
The CBH Group owns a state-of-the-art rail fleet dedicated to the most efficient transfer of grain from country receival points to its four port terminals.
The co-operative's marketing and trading arm is the leading grain acquirer in Western Australia and has operations in eastern Australia, as well as offices in Hong Kong and Tokyo.
In 2004 CBH bought a 50% stake in Interflour which operates seven flour mills in Indonesia, Vietnam, Malaysia and Turkey, including a grain port terminal in Vietnam; and Intermalt, a malting house in Vietnam.
In 2016 CBH bought Blue Lake Milling is a leading manufacturer of premium Australian oat products operating in South Australia and Victoria.
The CBH Group has total assets of more than A$2 billion and employs approximately 1,100 permanent employees and up to 1,800 casual employees during the harvest period from October through to January.
https://www.cbh.com.au/about-cbh
CBH Group reports strong FY23 surplus
15/12/2023
The CBH Group has reported a strong surplus for the 2023 financial year, propelled by a record harvest and outloading that saw the co-operative report a multitude of new operational records throughout the year.
The grower-owned co-operative today released its 2023 Annual Report, which outlines the financial and operational performance for the year ending 30 September 2023.
CBH reported a Group surplus of $353.3 million for the 2023 financial year, driven by the record harvest of 22.9 million tonnes, record shipping volumes, and favourable export margins early in the year.
CBH Chief Executive Officer Ben Macnamara said this strong financial result positions CBH to achieve the Board-endorsed Path to 2033 Strategy - generating more value and strengthening the network for current growers and future generations.
"This success was a year underpinned by a second consecutive record harvest delivered by Western Australian growers to CBH sites," Mr Macnamara said.
"To grow and deliver back-to-back record crops is an outstanding achievement and is testament to the resilience, commitment and innovation of Western Australian growers, as well as the CBH team who helped to receive it.
"Together we set almost 100 new harvest records and achieved our second safest 12-month period on record.
"Critically it was also the first time in the co-operative's 90-year history that we outturned a record 21.9 million tonnes to our international and domestic customers, with both records allowing CBH Operations to achieve its largest ever surplus of $156.1 million."
The outturn program saw the supply chain ship a record 19.7 million tonnes from our port terminals, while road and grower subcontractors moved a record 8.3 million tonnes of grain directly to our ports, breaking nine monthly records.
Rail performance significantly improved during the year, with Aurizon helping to move a record 11 million tonnes, breaking 10 monthly rail records for the year in the process.
CBH invested a record $572.7 million into the network, including entering into three agreements that will significantly bolster the existing rail fleet by 24 locomotives and 650 wagons.
As part of this network investment, good progress was made on 11 rail outloading and siding projects, including the completion of the Brookton rail siding project and the start of construction at the Broomehill rapid rail outloading project.
During the year, 436,000 tonnes of permanent storage and 2.3 million tonnes of temporary storage was added to the CBH network, while a record $173.6 million was invested in more than 230 sustaining capital projects that will ensure the longevity and functionality of network assets.
CBH Marketing & Trading (M&T) reported a surplus of $176.3 million which was driven by increased export margins early in the year, a second consecutive record harvest in WA and the re-opening of the China barley market.
During the year, M&T bought 43 per cent of the record WA crop and paid $4.8 billion to WA growers, while shipping 8.9 million tonnes of grain.
"To support the Path to 2033 Strategy, $170 million of M&T's surplus will be paid as a fully franked dividend to CBH for the sole purpose of network investment, with the remainder used to support the division's equity position," Mr Macnamara said.
CBH Fertiliser reported excellent growth in a year of transformation and expansion, with a record 232,000 tonnes sold.
This milestone was aided by the opening of the new Kwinana Fertiliser Terminal, entry into the liquid fertiliser market and significant growth in the Esperance region.
"CBH Fertiliser now holds an 11 per cent market share in Western Australia - well on its way to achieving its Path to 2033 strategic goal of holding a 15 per cent market share, and more importantly, creating competitive tension in the market," Mr Macnamara said.
Looking ahead, Mr Macnamara said CBH was focused on achieving the 'Path to 2033' Strategy.
"By 2033, we want to increase how much we export to a peak of 3 million tonnes a month and critically, be able to outturn 70 per cent of the crop in the first half shipping window to maximise the value of WA growers' grain," Mr Macnamara said.
"As you will see in the Annual Report, we are making good progress on the Strategy with record-breaking supply chain performance and in December 2022, we exported 2.2 million tonnes.
"We remain focused on the core of our business, our storage and handling network, marketing and trading grain, and providing a secure and consistent supply of fertiliser for WA grain growers.
"Although we are having a smaller harvest this year, we project that over the coming decade the average crop size will continue to increase.
"Right now though, our focus is on ensuring we safely and efficiently receive the remainder of this year's harvest."
https://www.cbh.com.au/media-releases/2023/12/cbh-group-reports-strong-fy23-surplus
CSBP Limited (ASX: WES)
CSBP, its subsidiaries, and joint ventures form the Chemicals and Fertilisers business units of Wesfarmers Chemicals, Energy & Fertilisers, part of Wesfarmers Limited's Industrials division.
Many of our products are essential to a variety of Australian industries including broadacre agriculture, iron ore and coal mining, nickel and gold extraction and construction. We export a number of our chemical products to supply international markets with industrial chemicals.
Our head office and major chemical and fertiliser production complex is located in Kwinana, 40 kilometres south of Perth in Western Australia. We employ more than 600 people at this location, the majority of who live in the Kwinana-Rockingham area.
We have a state-of-the-art soil and plant analysis laboratory located in metropolitan Perth, with major regional fertiliser storage and despatch facilities located in Geraldton, Bunbury, Albany and Esperance. We have CSBP fertiliser supplier depots and field-based agricultural advisers operating throughout WA's agricultural region.
CSBP subsidiary Australian Vinyls and ModWood, a subsidiary of Australian Vinyls, are located in Victoria and supply polyvinyl chloride (PVC) resins and wood-plastic composite products.
We also have a 50 per cent interest in Queensland Nitrates (QNP), a stand-alone integrated ammonia / ammonium nitrate facility in Queensland.
https://www.csbp.com.au/about-us/business-overview
2021 Full-year results
Wesfarmers Limited has reported a statutory net profit after tax (NPAT) of $2,380 million for the full-year ended 30 June 2021. NPAT from continuing operations, excluding significant items, increased 16.2 per cent to $2,421 million.
Wesfarmers Managing Director Rob Scott said that the strong financial result for the 2021 financial year is a testament to the dedication of team members and leaders across the Group, who continued to find new and valuable ways to meet customers' needs and support the community during a period of significant disruption.
Wesfarmers continued to prioritise providing a safe environment for customers and team members, and a strong focus on workplace safety supported a 7.7 per cent improvement in the Group's total recordable injury frequency rate (TRIFR) to 9.6 for the year.
The Group extended additional support measures to team members impacted by COVID-19, including paid pandemic leave and commitments to pay all permanent and many casual team members during prolonged lockdowns, including when there was no meaningful work for them. To support community vaccination efforts, the Group also committed to provide paid vaccination leave for permanent team members.
"While COVID-19 had a significant impact on operations during the year, the Group's businesses maintained their focus on building deeper customer relationships and trust," Mr Scott said. "In line with Wesfarmers' objective of delivering superior and sustainable long-term returns, the businesses continued to invest in providing greater value, quality and convenience for customers, including through strengthened data and digital capabilities.
"Bunnings, Kmart Group and Officeworks delivered strong sales and earnings growth for the year. While customer demand remained resilient, sales growth in Bunnings, Officeworks and Catch moderated from mid-March as the businesses began to cycle elevated demand following the onset of COVID-19 in the prior year. Pleasingly, sales growth from mid-March remained strong on a two-year basis across all of the Group's retail businesses.
"The result in Chemicals, Energy and Fertilisers reflected a continued solid operating performance, and the performance of all business units in the Industrial and Safety division improved during the year.
"Investment in data and digital capabilities accelerated, and the Group commenced the development of a data and digital ecosystem that will enable a more seamless and personalised customer experience across the retail businesses. Digital engagement across all businesses continued to increase and total online sales across the Group, including the Catch marketplace, increased to $3.3 billion."
The Group delivered good progress against its sustainability agenda during the year. Scope 1 and 2 emissions reduced by 8.9 per cent as the businesses progress towards their net zero ambitions. Wesfarmers also employed approximately 6,000 more team members at the end of June 2021 compared with the prior corresponding period. Aboriginal and Torres Strait Islander team member employment increased by over 1,100 during the year and as at 30 June 2021 represented 2.8 per cent of the Group's Australian workforce, an increase from 1.9 per cent 12 months prior.
The Group recorded a solid operating cash flow result for the year. Operating cash flows of $3,383 million were 25.6 per cent lower than the prior year, with strong earnings growth offset by a normalisation in working capital positions across the retail businesses following the lower inventory and higher payables balances recorded at the end of the 2020 financial year as a result of elevated demand.
Wesfarmers maintained significant balance sheet flexibility during the year to support continued investment across the Group while addressing ongoing uncertainty. The Group recorded a net cash position of $109 million at the end of the year.
The directors have determined to pay a fully-franked final ordinary dividend of 90 cents per share reflecting the strong NPAT result and Wesfarmers' dividend policy of distributing franking credits to shareholders. The final dividend brings total fully-franked ordinary dividends for the full year to 178 cents per share.
In addition to the final ordinary dividend, the directors are recommending a return of capital of 200 cents per share, representing a $2,268 million distribution. The recommended distribution is subject to shareholder approval at the 2021 Annual General Meeting (AGM) on 21 October 2021. This distribution will enable a more efficient capital structure while maintaining balance sheet capacity to take advantage of value-accretive opportunities as they arise.
Impact of COVID-19
During the year, COVID-19 continued to impact the Group's operations and financial results. The Group maintained many of the important measures implemented in the prior year to protect the health and safety of customers, team members and suppliers, and continued to support efforts to limit the spread of COVID-19. Many of the changes made to ensure safe operations and respond to changing customer shopping preferences have been increasingly integrated into normal business practices.
The Group continued to provide paid pandemic leave to team members and also paid all permanent and many casual team members during prolonged lockdowns, even in the event there was no meaningful work for them. In addition, to support team members and the community with vaccination efforts, the Group also committed to provide paid vaccination leave to all permanent team members. Wesfarmers did not receive any support under the Australian government's JobKeeper program.
Customers spending more time working, learning and relaxing at home, in part due to travel restrictions, continued to support strong demand in some product categories. Government stimulus measures, including those designed to provide income support to households and businesses, along with measures to stimulate residential construction activity, also had a positive impact on the Group's retail sales during the year.
Bunnings, Officeworks and Catch experienced moderating sales growth from mid-March as they began to cycle the strong demand experienced in the prior year. Volatility in customer traffic to stores resulting from governmentmandated restrictions and physical distancing requirements also impacted sales growth.
The Group's investment in digital capabilities over recent years supported increased online penetration across the retail businesses, although online sales growth moderated in the second half as customers returned to shopping instore and the businesses began cycling periods of strong online demand in the prior year.
Disruptions and capacity constraints in global supply chains led to some inventory delays and higher ocean freight charges. Some additional fulfilment costs were incurred in stores and distribution centres to accommodate peak periods of online demand. The Group's businesses continued to adjust inventory management practices to mitigate the impact of supply chain disruptions on stock availability
Trading update and outlook
Sales in the Group's retail divisions have been affected by recent lockdowns that have required store closures and restricted trading in multiple regions, including New South Wales and Victoria. Sales growth during the 2022 financial year to date has varied considerably across regions, with solid customer demand and trading results in areas less affected by lockdowns.
In response to recent lockdowns the Group's retail businesses have incurred additional COVID-19 related costs, including higher picking and fulfilment costs to meet the needs of customers in affected areas.
Bunnings' sales for the 2022 financial year to date declined 4.7 per cent on the prior corresponding period, with solid growth from commercial customers, offset by a decline in consumer sales as the business cycled elevated demand in the prior period. Sales growth remained strong on a two-year basis at 24.4 per cent.
Combined Kmart and Target sales for the 2022 financial year to date declined 14.3 per cent on the prior corresponding period and 12.3 per cent on a two-year basis. The Kmart and Target result reflects the significant impact of COVID-19 restrictions, including government-mandated temporary store closures across a number of regions. The number of temporary store closures has progressively increased since the beginning of the year and in mid-August almost 50 per cent of stores were closed due to lockdowns across Australia and New Zealand. Kmart and Target sales growth also reflects the permanent closure of 13 Target stores and 45 Target Country stores as part of the planned network changes during the 2021 financial year.
Catch's gross transaction value for the 2022 financial year to date declined 8.5 per cent as the business cycled the significant shift to online channels in the prior corresponding period. On a two-year basis, gross transaction value growth was 112.5 per cent.
Officeworks' sales for the 2022 financial year to date declined 1.5 per cent, driven by the impact of elevated sales in the prior corresponding period due to customers establishing spaces to work and learn at home. Sales growth remained strong on a two-year basis at 31.1 per cent.
The impact of lockdowns on household and business confidence has become more acute as recent lockdowns have been extended and further widespread restrictions would negatively impact overall business activity and the Group's trading performance.
Wesfarmers will continue to support the health response and vaccination efforts, including among our team members and in our local communities. The acceleration of community vaccination programs in Australia and New Zealand is positive, and necessary to enable a progressive return to more normal lives and business activity.
Building on commitments to team members made last year, the Group will continue to pay all permanent and many casual team members impacted by lockdowns until at least the end of December 2021. This important commitment will support team members who are required to isolate or where there is no meaningful work. Wesfarmers sees this as an investment that provides much needed certainty to team members, their families and our businesses in the lead up to Christmas. Under recent lockdown conditions this commitment is expected to require payroll costs of $2 to $4 million per week and impact near-term earnings.
The retail divisions are well positioned for the resumption of normal trading as lockdowns and restrictions ease.
Outlook
The Group's strong balance sheet and portfolio of cash-generative businesses with market-leading positions make it well positioned to withstand a range of economic conditions and deliver satisfactory shareholder returns over the long term. The Group remains committed to investment in key strategic initiatives, notwithstanding the likelihood of further near-term disruptions to operating conditions as a result of COVID-19. This relates to investment in developing a market-leading data and digital ecosystem, building platforms for long-term growth and accelerating the pace of continuous improvement.
Progress has accelerated on the development of a data and digital ecosystem, which will provide customers a more seamless and personalised digital experience across the Wesfarmers retail businesses. A new Managing Director has been appointed to lead these efforts from November 2021. To support this initiative, operating expenditure of approximately $100 million is expected to be incurred over the next 12 months.
The Group's retail businesses will maintain their focus on meeting the changing needs of customers, including through accelerated investment in data and digital capabilities to deliver even greater value, quality and convenience. Given the impact of lockdowns in recent months and the prospect of continued trading restrictions, earnings in the Group's retail businesses during the first half of the 2022 financial year may be below the prior corresponding period.
Ongoing disruptions to supply chains as well as global supply constraints for some products and inputs are expected to create additional costs and impact stock availability in some categories.
The performance of the Group's industrial businesses will continue to be subject to international commodity prices, foreign exchange rates, competitive factors and seasonal outcomes. WesCEF will focus on continuing its strong operational performance, developing the Mt Holland lithium project and investigating capacity expansion opportunities. Industrial and Safety will maintain its focus on delivering improvements in performance and profitability.
Wesfarmers will continue to actively consider climate change risk in the context of key business decisions and manage the portfolio with deep carbon awareness. The Group will maintain its focus on delivering progress against its net zero emissions targets and aspirations, and will make disciplined investments to ensure appropriate climate change resilience in each of its businesses.
Wesfarmers will also maintain its focus on providing safe and inclusive environments for team members and customers, achieving progress toward employment parity for Aboriginal and Torres Strait Islanders and working alongside global peers, non-government organisations and others to mitigate risks and enhance human rights in our supply chains.
Following the issuance of $1.0 billion in sustainability-linked bonds in June 2021 with strong demand, and as two higher-cost Euro bonds totalling approximately $1.6 billion mature over the next 18 months, the Group will continue to pursue opportunities to actively manage its debt maturity profile and lower its cost of borrowing.
The Group will continue to develop and enhance its portfolio, building on its unique capabilities and platforms to take advantage of growth opportunities within existing businesses and to pursue investments and transactions that create value for shareholders over the long term.
https://wesfarmers.gcs-web.com/static-files/4c9d51bc-3259-41a9-a4fb-b42211fa1e50/?auth_token=f77014b8-a01a-4d5c-a2cb-28689c3d3c5d
Cubbie Group
Cubbie Ag today announced that an agricultural fund managed by Macquarie Asset Management (the Fund) has acquired the remaining 51 per cent stake in Cubbie Station, associated properties and cotton ginnery (Cubbie), bringing the Fund's total ownership to 100 per cent.
Macquarie Asset Management, and its Australian agricultural funds management team, has a strong track record of managing agricultural operations.
Macquarie Asset Management looks forward to continuing Cubbie Ag's involvement in and support for local communities.
The change of ownership will not materially change the day-to-day operations of Cubbie.
Paul Brimblecombe, will continue as CEO of Cubbie, supported by the existing management team, and all current employee positions remain unchanged. There will also be no change to the Voluntary Water Contribution that was announced when the Fund acquired its initial 49 per cent interest in 2019.
About Macquarie Asset Management:
Macquarie Asset Management (MAM), the asset management arm of Macquarie Group, is one of the world's leading alternative asset managers.
For more than two decades, MAM has partnered with investors, governments and communities to manage, develop and enhance assets relied on by more than 100 million people each day. For more than 10 years, MAM has combined farming expertise, investment management discipline and a deep understanding of global commodities markets 'inhouse', to become one of Australia's largest diversified farmers. MAM's Australian agriculture portfolio teams are based in Albury, Orange and Sydney.
https://cubbie.com.au/wp-content/uploads/2022/02/2022-02-23-Cubbie-Ag-Company-announcement-1.pdf
About Cubbie Group
Cubbie Group comprises 93,700 hectares of farmland including 22,100 hectares of irrigated cropping fields which is supported by extensive on-farm irrigation infrastructure covering 13,300 hectares. The land mass also includes 8,900 hectares of cereal cropping area and 49,400 hectares of grazing, remnant vegetation and balance area. The properties can produce in excess of 250,000 bales of cotton in full production years or, alternatively, produce a wide variety of irrigated agriculture including wheat, sorghum, sunflowers, barley, chickpeas and corn
https://cubbie.com.au/wp-content/uploads/2019/08/Cubbie-press-release-020819.pdf
About
Cubbie Ag properties are located near Dirranbandi and St George in South West Queensland, the total holding is 93,000 hectares with 22,000 hectares of irrigated cropping fields which is supported by on-farm irrigation infrastructure.
Cubbie Station was a grazing business before being acquired in 1983 by the late Des Stevenson whose vision unheralded the property development to cotton production, this vision provided significant confidence to the local irrigation community.
The Brimblecombe family St George irrigation farming assets where sold and amalgamated with the Cubbie Station irrigation farming assets in 2005. The Brimblecombe family grew their first crop of cotton in 1965 at Forest Hill in the Lockyer Valley before moving to St George to expand their farming desires during the 1970s.
Since January 2013, the Cubbie Ag property aggregation has been owned by CS Agriculture Pty Ltd, an Australian registered company incorporated in 2012. The major stakeholder of this company being Ruyi Australia Group, a company that own and manage Australian operations on behalf of Ruyi Group, a Chinese multinational company which is rapidly becoming the world's largest vertically integrated fashion enterprise.
https://cubbie.com.au/about/
Elders Limited (ASX: ELD)
180 years of agribusiness knowledge, experience, and advice
Since 1839, Elders has been an integral part of Australia's rural business landscape. With 180 years of knowledge, experience and advice for its clients, Elders continues to focus on its future as a pure agribusiness both within Australia and internationally.
Elders provide various services to primary producers, supporting their needs throughout the entire production cycle. From finance, banking, and real estate services to wool, grain and livestock trading, Elders provides innovative services to those working in the agricultural industry and is heavily involved in all aspects of primary production.
Although our clients vary in size, production, industry and location, they have one common goal: to maximise the performance and returns of their farming enterprise. Whether you're looking for assistance during the launch phase of your business or are looking to increase the value and size of your established business, Elders has the resources and experience to help you reach your short and long term goals.
https://elders.com.au/about/history/
https://elders.com.au/about/
2024 Half-Year Results
20 May 2024
Elders reports $38.4 million underlying earnings before interest and tax (EBIT) and announces an interim dividend of 18.0 cents per share (50% franked). Elders reaffirms full year underlying EBIT guidance of between $120 million and $140 million.
Australian agribusiness Elders (ASX:ELD) today released its half year results for the six months to 31 March 2024.
Elders' HY24 performance was influenced by challenging seasonal conditions, cautious client sentiment, softening crop input prices and lower livestock prices.
Trading in the second quarter improved, compared to the first quarter, following an uplift in client sentiment, supported by un-forecast, widespread rainfall across many regions in eastern and southern Australia. Livestock prices recovered strongly throughout the half in line with improved seasonal conditions, which have also assisted the outlook for the 2024 winter crop and Elders' second half.
Elders' Managing Director and CEO, Mr Allison, said, "As outlined in our trading update on 8 April 2024, Elders was impacted in the first half by below average seasonal conditions which resulted in subdued client sentiment and lower crop protection and livestock prices against the prior period. Earnings improved in the second quarter, in line with a more favourable operating environment, and we are confident in a stronger second half with a return to average seasonal conditions and improved outlook for winter crop and livestock production."
"As a leading agribusiness we expect fluctuations in our operating environment; our response remains to focus on the controllable. This includes a commitment to a tightly managed cost base and a geographically diverse multi-product portfolio, to deliver strong earnings and value for shareholders through the cycles."
https://elders.com.au/about-us/media-releases/2024/2024-half-year-results/
Emerald Grain (TYO: 80530)
Louis Dreyfus Company Asia Pte. Ltd. (LDC) and Longriver Farms announced today that the companies have entered into an agreement for the acquisition of Emerald Grain Pty. Ltd. (Emerald Grain) by LDC.
The Emerald Network
Emerald Grain is one of the largest grain marketing and supply chain businesses in Australia.
Our Reach
At Emerald Grain, our purpose is to support Australian grain growers and their communities.
Our network extends to all key grain growing regions of Australia with a network of grain merchants located close to growers in regional areas.
Through our grain marketing network, we have access to quality grains and oil seeds from around 12,000 farming families.
We have a network of up-country storage and handling facilities in Victoria and New South Wales with an overall capacity of 1.5 million tonnes.
We own the Melbourne Port Terminal and we export grain from around 17 grain terminals across Australia to 35 countries across the globe.
We are owned by Sumitomo Corporation of Japan, one of the world's largest diversified trading houses with offices in 60 countries worldwide.
We have a network of grain merchants in major grain growing regions of Australia, providing us with exceptional access to intelligence about the Australian Grain market.
Our purpose is to support Australian grain growers and their communities. We do this by employing local people and customising grain marketing plans to suit each growers needs. These sentiments are supported by our parent company Sumitomo, one of the largest diversified trading houses in the globe.
Sumitomo acquired Emerald Grain in 2014 as a strategic move to connect Emerald's position in the grain market in Australia, with Sumitomo's strong position across the world stage. Together we have strong and capable people across the world, servicing the entire global grain business.
Our trading and marketing team based in Australia and Asia are experts in commodity trading in domestic and international markets. We are a trusted supplier of quality Australian grain to over 35 countries across the globe.
Linking these international customers to quality Australian grain is our Supply Chain business in Australia. We have 9 up-country grain storage facilities in Victoria and New South Wales, feeding our Melbourne Port Terminal and other grain terminals across the east coast.
Our strong team across Australia is working alongside growers on the ground and partnering with grain buyers across the globe to feed the rapidly growing populations and economies of the world.
http://emeraldgrain.com/home/about/
GrainCorp Limited (ASX: GNC)
GrainCorp is proud to be a leading international agribusiness with diversified operations that span four continents and supply customers in over 30 countries.
We operate a unique mix of interlinked businesses - Grains, Malt and Oils - which provide a diverse range of products and services to our valued customers across the food and beverage supply chain.
GrainCorp focuses its activities on three core grains (wheat, barley and canola) where the company has comparative advantages through grain origination, freight differentials and technical expertise.
GrainCorp has operations in Australia, New Zealand, North America and Europe (including the United Kingdom), which collectively represent over 50% of global export trade in wheat, barley and canola.
Across all aspects of our business we are committed to working closely with our customers to develop and deliver innovative solutions that help meet the demands of a rapidly growing global population.
http://www.graincorp.com.au/investors-and-media
GrainCorp delivers outstanding FY23 result
16 November 2023
GrainCorp Limited (GrainCorp or the Company) (ASX: GNC) today announces its results for the year ended 30 September 2023 (FY23).
EBITDA1: $565 million (FY22: $703 million)
Net Profit After Tax (NPAT): $250 million (FY22: $380 million)
Return on Invested Capital (ROIC2): 18.6% (FY22: 27.9%)
FY23 dividends3: 54 cents per share (FY22: 54 cps)
On-market share buy-back of $50 million announced
Commenting on the FY23 result, GrainCorp's Managing Director & CEO Robert Spurway said:
"GrainCorp delivered another outstanding result in FY23, with both Agribusiness and Processing business segments contributing positively to our performance.
"The result clearly reflects our disciplined focus on operational performance, the capability of our people and the momentum we continue to build.
"GrainCorp continues to progress its strategy of strengthening the core of the business through targeted investment into our value chain.
"We again improved the performance of our oilseed crush, increasing throughput volume for the fifth successive year.
"We also further optimised our grains sites to provide improved service for growers, reducing truck turnaround times and achieving a significantly improved net promoter score.
"Our exceptional balance sheet, with core cash of $349 million, also provides us with the flexibility to return capital to shareholders, while continuing to pursue growth opportunities.
"Pleasingly, we continued to integrate sustainable practices into our commercial, financial and operational activities.
"Our sustainability achievements, ongoing initiatives and key targets are discussed in detail in our FY23 Sustainability Report, released today."
Agribusiness
EBITDA was $401 million (FY22: $624 million) with strong contributions across ECA, International and Feeds, Fats and Oils (FFO). Total grain handled was 37.4mmt (FY22: 41.1mmt), supported by large carry-in from FY22 of 4.9mmt.
Volumes and margins were down from the record level seen in FY22, although remained above historical averages.
GrainCorp continued to benefit from improved utilisation of port assets, including increasing bulk material volumes to 3.3mmt (FY22: 2.5mmt).
Our international business once again saw high global demand for Australian grain, driven by elevated local production volumes and uncertainty of northern hemisphere supply. International contracted grain sales of 3.7mmt (FY22: 3.5mmt) were underpinned by large volumes from Western Australia.
FFO achieved a record result with exceptional performance across all areas, supported by high demand for renewable feedstocks and supplementary feeds.
Processing
EBITDA was $153 million (FY22: $127 million), with record crush volumes and margins.
"The exceptional result achieved in Processing was driven by our oilseeds business, as disciplined investment and the integration of advanced analytics supported record crush volumes of nearly 500kmt," Mr Spurway said.
Favourable oilseed margins were bolstered by a large ECA canola crop, sustained global demand for vegetable oils driven by nutrition and Agri-energy sectors, and supply constraints in other key growing regions.
Balance Sheet and Capital Management
GrainCorp's balance sheet is in an excellent position with a core cash balance of $349 million4 at 30 September 2023 (FY22: $177 million). Net debt at 30 September 2023 was $373 million (FY22: $540 million).
In addition, gross proceeds of $127 million from the acquisition of UMG by Malteries Soufflet were paid to GrainCorp on 15 November 2023.
GrainCorp's Board of Directors has declared a total final dividend of 30cps, comprising:
a final ordinary dividend of 14cps, fully franked (FY22: 14cps); and
a final special dividend of 16cps, fully franked (FY22: 16cps)
Both the final ordinary and final special dividends will be paid on 14 December 2023 to ordinary shareholders at a record date of 30 November 2023 (in respect of both dividends).
In addition, GrainCorp has also announced an on-market share buy-back of up to $50 million.
Update on Strategic Priorities
"GrainCorp is delivering on its strategic priorities of strengthening the core of the business while exploring targeted growth opportunities," Mr Spurway said.
Animal Nutrition acquisition
"We continued our focus of disciplined growth, including the announced acquisition5 of XF Australia (which trades as Performance Feeds and Nutrition Services Associates), a provider of feed supplement products and nutritional consulting services to Australia's feedlot and grazing sector, for $35 million.
"This acquisition expands our offering to customers by enhancing our capabilities in Animal Nutrition."
Oilseed crush expansion
GrainCorp took positive steps to identify opportunities for an expansion of its oilseed crush capacity, including identifying Western Australia as a preferred location for a new plant, with an approximate capacity of 750KMT to 1MMT.
"The assessment of new crush capacity is an ongoing priority, as we continue our positive engagement with both upstream and downstream partners."
"This week, we also announced a renewable fuels initiative with IFM Investors to explore opportunities to help decarbonise the aviation sector."
"Agricultural feedstocks will play a critical role in the country's transition to renewable fuels and a lower carbon economy, and GrainCorp is well positioned strategically to help facilitate this change," Mr Spurway said.
Outlook
"The ECA winter crop harvest commenced earlier than last year and is drawing to a close in Queensland, while NSW and Victoria harvests are underway," Mr Spurway said.
"We've seen drier conditions in the northern half of ECA, but overall quality across all commodities has been excellent and harvest is now progressing well in key southern growing regions.
"Looking ahead, we expect crush volumes to remain high, whilst margins are anticipated to moderate from FY23 levels.
"Our current balance sheet provides us with flexibility to pursue our strategic priorities by exploring organic and inorganic growth opportunities, investing in our core business to drive better returns on assets, and continuing to optimise total shareholder returns."
https://www.graincorp.com.au/wp-content/uploads/2023/11/FY23-Results-Announcement.pdf
Incitec Pivot Limited (ASX: IPL)
Company Profile
Incitec Pivot Limited's Purpose is to make people's lives better by unlocking the world's natural resources through innovation on the ground.
An ASX 100 Company, IPL had its origins in Europe and North America in the 19th century and Australia early last century. It is now a global leader in the resources and agricultural sectors with an unrelenting focus on Zero Harm. With a diverse leadership, we add value for our customers through manufacturing excellence, leading technology solutions, innovation and world class services focused on our customers.
Through Dyno Nobel, we play a critical role in releasing the worlds natural resources, so we can build infrastructure and generate the energy we need to live in a modern world today.
And with population growth, through Incitec Pivot Fertilisers' 100-year heritage in Australian agriculture, we play an important role in enabling sustainable food production to meet the rapidly rising demand for food around the world.
Global Manufacturing
IPL's global manufacturing facilities produce a wide range of explosives, fertilisers and industrial chemicals.
As well as owning and operating 20 manufacturing plants in the US, Canada, Australia, Mexico, Indonesia and Turkey, we have joint venture operations in South Africa, China and Australia.
Explosives
Our initiating systems and assembly plants in the US, Mexico and Australia, build detonators, boosters and cartridge explosives such as dynamite. Through our Dyno Nobel business, we supply industrial explosives and blasting services to the mining, quarrying, seismic and construction industries in North America and Australian market. Blasting is an essential step in extracting the minerals required to meet the world's demand for power, infrastructure and consumer goods. Mines, quarries and seismic explorers use Dyno Nobel products to achieve safety goals and improve operational efficiency.
Fertilisers
Incitec Pivot Fertilisers is Australia's largest supplier of fertilisers, dispatching around two million tonnes each year for use in the Australian grain, cotton, pasture, dairy, sugar and horticulture industries.
Bulk and packaged fertiliser products are distributed to farmers through a network of more than 200 business partners and agents. The company supports farmers across eastern Australia, from tropical fruit growers in north Queensland to dairy producers in Tasmania.
https://www.incitecpivot.com.au/about-us/about-incitec-pivot-limited/company-profile
IPL continues to deliver strong underlying earnings growth in 1H24
16.05.2024
1H24 highlights - Statutory results
Incitec Pivot Limited (ASX:IPL) today reported a net loss after tax including individually material items (IMIs) of $148m (prior corresponding period (pcp): $354m profit). This result included IMIs totaling $312m (after tax) relating primarily to a non-cash impairment of the fertilisers business which was partially offset by a gain on the sale of IPL's ammonia manufacturing facility in Waggaman, Louisiana. IPL also reported Earnings Before Interest and Tax (EBIT) excluding IMIs of $249m down from $552m in the pcp. The principal driver of the reduced earnings relates to the discontinuation of Waggaman (sold on 1 December 2023) and the closure of fertiliser manufacturing at Gibson Island, Queensland.
1H24 highlights - Underlying results
IPL delivered underlying EBIT growth of 18% compared to the pcp after adjusting for re-basing items which relate primarily to the closure of manufacturing at Gibson Island and the sale of Waggaman (refer table on following page and associated footnotes for more details). Key drivers of the improved performance include growth in all customer-facing businesses, including record first half EBIT for the Dyno Nobel Asia Pacific business and the Fertilisers Distribution
business.
Financial performance
Zero Harm: Tragically, IPL lost a valued employee as a result of a fatal incident on apublic road. Total Recordable Injury Frequency Rate (TRIFR) for the rolling twelve-monthperiod ended 31 March 2024 was 1.06, up from 0.781 at 31 March 2023
Statutory Net Loss After Tax and IMIs2: $148m (1H23: $354m profit)
NPAT ex IMIs: $164m (1H23: $362m)
EBITDA ex IMIs: $425m (1H23: $724m)
Earnings Per Share ex IMIs: 8.4 cents per share (1H23: 18.6 cps)
Return on Invested Capital including goodwill (ROIC): 5.1% (1H23: 12.8%)
Interim dividend of 4.3 cents per share (unfranked) representing a 51% payout ratio
Capital management: $500m capital return completed; $900m on-market buyback remains on hold while the fertilisers business divestment process continues
Fertilisers divestment: in advanced negotiations (refer to today's ASX announcement)
Business performance
Dyno Nobel Americas (DNA): EBIT of US$100m (1H23: US$260m) with the reduction in earnings largely due to the sale of the Waggaman facility. US Explosives earnings of US$56m increase 12% on the pcp supported by increased margins reflecting recent pricing increases and cost management initiatives.
Dyno Nobel Asia Pacific (DNAP): Record EBIT of $108m (1H23: $79m) with earnings and margins up strongly. Customer recontracting as well as customer growth has helped to return margins to appropriate levels. The business continues to see steady uptake of Dyno Nobel's premium technology suite, particularly electronic detonators and Differential Energy emulsions.
Fertilisers Asia Pacific (IPF): EBIT of $10m (1H23: $108m) with the result impacted by the closure of Gibson Island, unfavourable commodities and FX movements, and reduced manufacturing performance at Phosphate Hill. The Distribution business delivered record earnings in the first half3 , reflecting strong customer demand and effective management of fertiliser supply chains.
Capital management initiatives
IPL remains committed to its previously announced capital management initiatives to return up to $1.4bn of cash to shareholders:
IPL returned ~$500m of surplus capital to shareholders via a pro-rata capital return and special dividend paid on 8 February 2024.
IPL intends to commence the planned on-market buyback program of up to $900m8 in the next permissible trading window. The buyback program remains on hold while negotiations for the divestment of the fertilisers business continue.
Commentary from IPL's
CEO & Managing Director CEO & Managing Director, Mauro Neves, said:
"Our Dyno Nobel and Incitec Pivot Fertilisers businesses have delivered strong underlying earnings performances across the first half, with record first half results in Dyno Nobel Asia Pacific and our Fertilisers Distribution businesses.
"The safety of our people, customers and stakeholders remains our number one priority. Tragically, a much loved colleague passed away in a vehicle incident on a public road, which has served as a stark reminder of why our commitment to Zero Harm is so important."
"In my initial evaluation of the opportunities ahead for the company, I have been impressed by the significant potential that can be unlocked through disciplined execution of our strategy. Across our Dyno Nobel business globally, we continue to see strong customer growth, improved pricing and further uptake of our industry leading technology. Our Fertilisers Distribution business achieved record first half earnings due to strong customer demand and disciplined supply chain risk management.
"Our headline result reflects major restructuring in our asset portfolio across both the Dyno Nobel and Incitec Pivot Fertilisers businesses. After re-basing for these items, and movements in commodities and foreign exchange rates, underlying earnings were up 18%, with growth in all customer-facing businesses. This is a testament to the hard work of our teams across our businesses and reflects a solid platform for future growth.
"We have continued to progress the structural separation of our two-industry leading business. We are in advanced negotiations for a potential sale of our fertilisers business to PT Pupuk Kalimantan Timur, who are a major fertilisers producer in Asia and current supplier of urea to Australia.
"Our aim remains to achieve appropriate value for the IPF business for our shareholders and stakeholders.
"We understand that our shareholders, employees and other stakeholders are keen to see an outcome and the team is focused on concluding the sale process as soon as possible. With negotiations for the sale of IPF not yet concluded, our on-market share buyback of up to $900 million remains on hold.
"Dyno Nobel is undergoing an exciting business transformation so we can achieve substantial improvement in returns on invested capital. The IPF business will continue to improve manufacturing reliability and build on momentum from this first half result."
Outlook
IPL is focused on delivering continued earnings momentum in its customer-facing businesses in the second half of FY24. The company is progressing its strategy of transforming the global explosives business to unlock its full potential and deliver improved returns to shareholders.
Further information on the FY24 outlook for IPL's business segments is contained on page 18 of the 1H24 Profit Report.
https://investors.incitecpivot.com.au/static-files/c6de2f5e-ec7d-42fe-a3c5-7818236a2126
Landmark (NYSE: NTR, TSE: NTR)
Landmark is a subsidiary of Nutrien Ltd (NYSE: NTR, TSE: NTR).
About Us
We have been a part of rural Australia for more than 150 years. We share your passion for agriculture and we'll always be there to help you get the most out of your farming business.
What We Do
Landmark is an integral part of t
he Australian agricultural industry. Our generations of experience have made us experts in a range of different farming areas, including precision farming services, marketing livestock and wool, agricultural services, finance, insurance, merchandise and real estate.
We are the largest distributor of both farming supplies and fertilizer in Australia and have a national network servicing 100 000 clients in over 400 locations. Our team of more than 1600 farming experts is committed to upholding the mission and values that have kept us a vital part of this industry for more than 150 years.
Our Vision
At Landmark, we're committed to growing value through a world of innovation, practically applied.
Our Mission is to always have:
Unrivalled expertise. We employ the best and brightest minds, supported by an extensive network of corporate branches, franchises, members and agents. Simply, we understand your needs and what matters to you.
An extensive range. We offer merchandise, fertiliser, farm services, wool, livestock, finance, insurance and real estate.
Unwavering commitment. With more than 150 years experience and over 400 locations across Australia, we dig deep in rural communities to provide value and service for the long haul.
Strong supplier relationships. We foster close relationships with our suppliers and partners, offering us access to the latest developments and ensuring our customers are always up to date.
Nutrien
Landmark's parent company, Nutrien, is the world's largest provider of crop nutrients, feed, crop protection and services. Nutrien plays a critical role in helping farmers across the planet increase food production in a sustainable manner.
Nutrien services over half a million growers at 1,500 retail stores worldwide, playing a critical role in Feeding the Future. Nutrien focuses on innovation, which is essential for achieving long-term shared success with customers, investors and other stakeholders.
https://www.landmark.com.au/about-us
Webster Limited (ASX: WBA)
About Us
At Stahmann Webster we pride ourselves in being farm-to-table producers of world class walnuts, pecans, macadamias and almonds.
From growing and processing to marketing, we are a team of hard-working producers and purpose-driven promoters. We specialise in what we do well, recognising that to deliver the best possible product, we need to work hard across all aspects of our business, closely monitoring and responsibly managing every step.
We are counted on - by our people, our customers and our communities - to deliver what we say. As a good employer and operator, we take seriously our role as responsible stewards and managers of the land, and as locals, we actively support our neighbours across the country.
At Stahmann Webster, we are fully invested, from the ground up. Because naturally, we believe people should feel good about the choices they make.
Our history
In 2020, Stahmann Farms and Webster Limited became Stahmann Webster. Built on hard work and determination, Stahmann Webster is trusted to deliver the best from what nature provides. This trust stems from bringing together two established, Australian agricultural brands - Stahmann Farms and Webster Limited - to bring the best possible locally-grown, natural nut products from our orchards to the world.
With a history spanning more than 180 years, we are proud of our roots and draw strength from our heritage, looking to the future with energy and optimism. Forever guided by our down-to-earth nature and authentic Australian spirit, we constantly strive to bring out the best in our people and our products.
About Stahmann Farms
Stahmann Farms Inc. was established in Las Cruces, New Mexico, in 1932 by Deane Stahmann Snr. Deane and his sons, the late brothers, Deane Jnr and Bill Stahmann, planted more than 100,000 pecan trees on a vast property still operated by the Stahmann family. In 1965, Deane Stahmann Jnr came to Australia with the intention of creating the first commercial pecan operation in the southern hemisphere. He first planted trees at Gatton in Queensland and shortly after at the flagship property Trawalla near Moree in New South Wales. His dream of creating a new industry was realised in 1982 when the Toowoomba Processing Plant began supplying the finest quality processed pecan nut kernel from these farms to Australia and the world.
About Webster Limited
Webster Limited - the fourth oldest company in Australia - dating back to 1831 and is named for the founder's nephew, Alexander George Webster, who was born in (what was then called) Van Diemen's Land in 1830 later running the grain and wool business in 1856.
Throughout its long history, Webster Ltd has been involved in many aspects of agriculture from broad acre farming to forestry and fresh vegetables, rural supplies, transport and machinery and most recently tree nut farming.
Since the 1990s Webster has pioneered the Australian walnut industry and today represents more than 90% of local production from orchards in Swansea and the Murrumbidgee.
Now too, the farming activities encompass almonds following the acquisition of Sandy Valley in the Riverina district.
http://stahmannwebster.com.au/contact/about/
Viterra Australia
Viterra operates storage and handling network spanning key growing regions in South Australia and western Victoria with a total storage capacity of over 10 million tonnes. We manage upcountry sites and strategically located port terminals to provide an efficient, cost effective and reliable supply chain to meet the requirements of our grower, domestic user and export customers.
We provide a range of services including storage and warehousing, receival and elevation, quality assessment, logistics and accumulation, quality control and food safety, electronic transactional services, container packing and bulk ship loading. Each service is adaptable to enable the individual requirements of customers to be met.
We receive the main commodities grown in South Australia including wheat, barley, canola, lentils, faba beans, field peas and lupins. We offer multiple segregations for each commodity. These segregations allow growers to capture value for their grain depending on the variety, grade and quality specifications of their individual loads and allow buyers to better match their needs.
Our facilities service more than 5,000 grower customers with around 40 buyers purchasing grain directly from growers through the Viterra system.
Quality management and food safety is integrated into all of our activities and operations. All Viterra facilities meet the highest international standards of food safety management through our ISO 22000 certification. All export facilities are registered and certified by the Department of Agriculture. We undertake comprehensive grain classification and residue testing and have a dedicated state of the art laboratory, accredited by the National Association of Testing Authorities, which oversees all classification testing.
With nearly 700 permanent employees and up to 2,000 additional employees during harvest, predominantly in rural areas; we are a major employer in South Australia.
Viterra is part of Glencore Agriculture, a global leader in originating, handling, processing and marketing agricultural commodities including grain, oilseeds, pulses, sugar, rice, cotton, vegetable oils, protein meals and biodiesel. Glencore Agriculture's operations and marketing offices span more than 35 countries worldwide.
http://viterra.com.au/index.php/about-us/
ACQ_REF: IS/43929/20240617/AUS/50/17
ACQ_AUTHOR: Senior Associate/Theadore Leighton Manjah
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