Bulk handlers GrainCorp and Viterra have now received around 5.6 million tonnes from the harvest which is now winding down in eastern Australia in all states bar Victoria, where rain delayed activity in the last fortnight of 2018.
Grain received in the eastern Australian harvest by GrainCorp and Viterra now totals 4.79 million tonnes (Mt) following receivals into their systems which totalled 152,900 tonnes in Queensland, New South Wales and Victoria, and 391,071t in South Australia.
The Australian Competition and Consumer Commission’s (ACCC) annual Bulk grain ports monitoring report has highlighted continuing concerns from growers and exporters about access to Australia’s bulk grain export supply chains, both at port and up-country.
Receivals in the eastern Australian harvest have hit 4.2 million tonnes, according to the latest updates from bulk handlers GrainCorp and Viterra.
Grain receivals from the eastern Australian harvest to date have hit 3 million tonnes, with GrainCorp’s intake in eastern states now at 1Mt as of 3 December, and Viterra’s in South Australia at just under 2Mt as of 2 December, according to their latest weekly harvest reports.
A new vehicle for Australian investors, Long-Term Asset Partners Pty Ltd (LTAP), has bounded into view with a bid to buy out eastern Australia’s major bulk handler, GrainCorp, for $10.42 per share.
Harvest to date in South Australia and its eastern neighbours has hit 2.3 million tonnes, with rain slowing progress in South Australia, where Viterra has now received 1.63Mt, compared with 672,000t in total received by GrainCorp in eastern states.
Bulk handlers GrainCorp and Viterra have received a total of 449,500 tonnes and 1.35 million tonnes of grain respectively in the harvest to date to take the total intake for mainland states outside Western Australia to 1.8Mt.
Reduced throughput in its eastern-states bulk-handling system has walloped the FY18 results for GrainCorp Ltd, which today announced an underlying net profit after tax (NPAT) for the year to 30 September of $71 million, half the FY17 result.
Harvest in the past week has seen tonnage delivered to the South Australian Viterra network almost double, while in GrainCorp’s eastern states system, Victoria’s intake for the week and the harvest to November 12 is now ahead of New South Wales’.