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Roc Partners has bought out Emerald Grain from the Japanese conglomerate, at a time when prospects for Australia’s east coast grain industry are positive.
The family office of one of Australia’s richest men is building a significant portfolio of beef and aquaculture assets in Western Australia and plans to expand into grains.
Favorable climatic conditions have set up a bumper grains crop in Australia. But ANZ warns the sector should prepare for ‘the confluence of major global factors’, including covid-19.
Drought in Australia
Rabobank found that 41% of farmers thought agricultural conditions would worsen in the coming 12 months, after ABARES revised down its winter crop forecast for 2019-20 by 13%.
Undertakings by ANZ Terminals to divest a facility in South Australia and to exclude a facility at Port Kembla from the deal alleviates competition concerns, the competition watchdog said.
The country will remain a net exporter of cereal grains, but the proportion of grains being exported is forecast to fall from 60% down to 53% as domestic demand growth outpaces supply.
The ASX-listed firm has signed a contract with White Rock Insurance in a similar arrangement to that proposed by Long-Term Asset Partners in its failed takeover bid for the company.
The first wheat imports to Australia in years raise concerns about the sector – but there is still interest in cropping properties.
Sydney-based Artesian Venture Partners has launched its A$50m GrainInnovate VC fund with backing from the Grains Research and Development Corporation
Long-Term Asset Partners appeared out of the blue to bid for the agribusiness, with a purported link-up with Allianz to help remove volatility from ag investing – but GrainCorp’s business is ripe for disruption anyway.
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