Initial JV plans are to operate grain receivals sites across both Alberta and Saskatchewan, which will form part of a fully integrated supply chain for the origination, marketing, storage, handling, distribution and exporting of Canadian grain and oilseed.
GrainCorp's contribution will be made from existing cash and debt facilities. Tamara Voninski. GrainCorp Marketing's existing office will support the JV to manage the origination process. Given well supplied markets we expect urea and ammonia prices to remain under pressure. Lower US gas costs provide a partial offset to weaker ammonia price expectations. On a fully ramped basis FY18 we forecast a The boost to already fragile FY15 underwriting margins from less conservative current year reserves has been reversed - appropriate rather than conservative in our view - while higher Home, Motor and CTP claims inflation along with abnormal Commercial large claims activity has also impacted.
While partly one-off, restoring ITRs to at least 12 per cent appears a stretch in the current competitive landscape. Whilst we see improved value appeal at Skip to navigation Skip to content Skip to footer Help using this website - Accessibility statement. Markets Equity Markets Print article.
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Why gallery owner Gene Sherman is in love with Japan. Is this the world's best hotel?Malt: Malt has had a strong second half FY18, with a full contribution from the new plant in Pocatello, Idaho. The business continues to operate at high utilisation, servicing a broad mix of brewing and distilling customers globally. Demand for specialty products in the craft beer and distilling sectors continues to grow and GrainCorp Malt is well positioned to participate in these markets.
Oils: GrainCorp Liquid Terminals has performed well, with strong customer demand. Oilseed crush margins are down year-on-year due to the reduced Australian canola supply and quality issues.
The world needs your rye.
The Foods business has made progress during the year with a more streamlined structure, improved operational efficiencies being delivered at West Footscray and pick-up in demand from the infant formula sector. Winter crop hectares planted were reduced and yields may continue to decline if the season progresses without decent rainfall in coming weeks.
Mr Palmquist said GrainCorp had implemented a series of initiatives to support the communities in which it operated and its grower customers to help them as they navigate the difficult months ahead.
This included improving processes for growers and consumers wishing to withdraw grain stored in our system for use as animal feed. These rail commitments expire at the end of FY19, with the new rail contracts coming into effect in FY20 and providing greater flexibility to manage transportation costs through the crop cycle. Your email address will not be published.
GrainCorp to Operate Elevators Across Saskatchewan, Alberta
Save my name, email, and website in this browser for the next time I comment. Your comment will not appear until it has been moderated. Contributions that contravene our Comments Policy will not be published. Comment Your comment will not appear until it has been moderated. Get Grain Central's news headlines emailed to you .The joint venture is building a fourth high-speed train loading terminal in Huxley, Canada.
The terminal will be located in Huxley, northeast of Calgary, Alberta, Canada, and will have 35, tonnes of storage capacity with the ability to load rail cars in 14 hours. Construction is expected to start this summer, with an expected completion date of This is the second site announcement this year and we are excited to invest in regional Canada.
There has been strong grower interest in this area for more choice and we are excited to deliver a state of the site facility to the region. The GrainsConnect joint venture was announced in December with the goal of operating grain receival sites across Alberta and Saskatchewan as part of a fully integrated supply chain for the origination, marketing, storage, handling, distribution and exporting of Canadian grain and oilseed.
The owners will leverage their respective global networks and customer demand to ship Canadian grain to the world. We know they want access to global markets and exposure to the best prices. We are confident we will be able to deliver choice and competition across the supply chain. We will provide a fully integrated supply chain delivering efficiency, reliability and more markets to Canadian growers. Our investment will generate construction jobs in those communities over the next few years and new permanent jobs and economic activity once complete.
Sign in. Log into your account. Password recovery. Forgot your password? Get help. Our Facilities Are Shut Down. Germination Update. By Compiled by Staff. December 17, Discussions have commenced in relation to rail and port access for the joint venture. Related Articles. Read more. Donald E. Currently Chair of the CanadaLeading Australian agribusiness GrainCorp has teamed up with Zen-Noh Grain Corporation — a subsidiary of Japanese agricultural cooperative Zen-Noh — to expand its grain origination footprint in Canada.
The Calgary-based joint venture will operate grain receival sites across Alberta and Saskatchewan that will be part of a fully integrated supply chain for the origination, marketing, storage, handling, distribution and exporting of Canadian grain and oilseed. According to GrainCorp, the construction and other activities of the joint venture are subject to the satisfactory completion of due diligence of the potential sites, as well as obtaining other customary regulatory and planning approvals.
This gives us greater relevance and a broader platform to engage with the customer, creating more opportunities to offer our services. Of course, the new business also benefits grain and oilseed growers in the Canadian Prairies, by providing an independent and alternative pathway to market. This is a good opportunity to grow our business in Canada with a trusted partner.
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GrainCorp partners with Zen-Noh in Canada
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Anglo American to divest stakes in two Australian coal mines Jas - February 17, 0.Photo: GrainCorp. Mr Bradley said GrainCorp had benefited from business and process simplifications made in its grains business, and that the company was looking at options to rejig other parts of its portfolio along the same lines. Mr Palmquist said a new rail contract had been signed which virtually eliminated take-or-pay obligations, and associated fixed costs, on rail slots from next financial year.
He said the new contract much better fitted the peaks and valleys of east-coast grain production, and enabled GrainCorp to better control its variable costs. Mr Palmquist said GrainCorp had brought in around 1Mt of intrastate grain by ship to date, and shipments were likely to continue in the short term at least. He said CropConnect for grain trading and Croptimiser for grain blending were two platforms which were proving popular with growers, and helping to increase efficiency, perhaps ahead of fixed assets.
Shareholders were told GrainCorp would continue to focus on improving performance and efficiency in its oils division. Mr Palmquist said the recent expansion at its crushing plant at Numurkah in Victoria had gone well. Mr Bradley said growing conditions had deteriorated further in recent months, with year-to-date rainfall among the lowest recorded in the past century, and most of eastern Australia in drought.
Mr Bradley said GrainCorp Malt was also continuing to expand its distribution capability in the United States, and had recently opened a new warehouse in Florida, with more sites in the pipeline. The project will increase malting capacity in Scotland by almost 80,t, and will support strong growth in distilling demand.
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Contributions that contravene our Comments Policy will not be published. GrainCorp pursues offshore expansion through drought Grain Central, February 20, Graham Bradley. Comment Your comment will not appear until it has been moderated. Get Grain Central's news headlines emailed to you .This has allowed it to source multi-origin grain and also supply its own food processing assets located locally and abroad. This may all sound familiar for those who follow the company, but when speaking with company CEO Mark Palmquist it was clear there is more history in the making for the company.
With deregulation of the Australian wheat industry occurring inthe grains industry should not expect to stand still if it is to unlock new opportunities and growth. Palmquist said the opportunities now and into the future will come from understanding in greater detail what the consumer wants and being able to offer a premium customized product.
Palmquist explained taking the path toward customization was more achievable than thinking Australia could be the breadbasket of Asia. As consumers become wealthier their expectation for product quality will increase and they demand it look, smell and taste a particular way, he said. It is here the characteristics and production method influence the end product.
For example, the wheat used in noodle production influences the way it smells and whether or not it forms a skin on the water when cooked and served. It is in this product that GrainCorp is seeking to embed itself to create more opportunity for the grower and its food processing customers by facilitating the necessary standards and traceability that arise from selling a premium product. Palmquist explained that part of this premium product offering is allowing customers to look across the entire supply chain to the paddock so they know where the grain was produced, what variety it is and even what inputs were used in production.
This deep understanding requires close connections across all stakeholders in the supply chain. Using malt barley as an example, Palmquist said maltsters who wanted to malt barley in a particular way need to be confident the raw ingredient they are using is the right variety to achieve the characteristics they are trying to create in the finished product.
Coupled with this opportunity is the need for growers to think of their grain not just as a commodity but a food ingredient, and there will be opportunities for GrainCorp to work hand-in-hand with growers to keep the integrity of the grain as it moves from farm gate to silo. This level of traceability and customization will demand a different type of relationship with the grower, Palmquist said.
He likened this adherence to requirements to organic grain that requires it meet strict criteria and segregation from non-organic grain in order to maintain its certification. Palmquist said in addition to factoring in the physical movement of grain, the company will need to facilitate a standard of traceability that a consumer may touch and see.
While GrainCorp does not expect to get into the actual storytelling, it expects customers will increasingly demand the information and therefore will need to work with processors to allow them to achieve this. The challenge is the ability to create the scale and efficiencies needed to keep costs down without losing the customized service. As on the grower side, Palmquist expects the company will need to work closely with customers to understand what is required of the finished product, including traits, smell and appearance so that it can deliver the product.
Included in this offering is construction of a pilot malt house or brewery so they may showcase to customers the qualities of grain and how they impact the finished product.
This approach also will take traceability out of the lab or label so that customers can see their product and understand how it will perform during processing.
While these shifts in customer expectations will impact the industry as a whole, they will also provide the company with new challenges and opportunities for future growth. On one hand, Palmquist said the company will continue to drive efficiencies in its operations and supply chain to ensure Australian grain remains competitive in the world market and will provide its global customers with multi-origin grain so it moves away from a reliance on eastern Australian grain.
Included in this expansion, Palmquist said, the company could also look at grower relationships, supply chain infrastructure and further movement to expand its grain origination footprint or processing operations. Addressing the challenges for the company and the industry more generally, Palmquist spoke of an increasing backlash against globalization, which is particularly difficult for international companies like GrainCorp.
In addition to the globalization backlash is shifting government regulation, which results in changing standards and requirements for food products.Wheat School - How does Canadian wheat production compare globally?