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GrainCorp Expands into Canola Processing

30 August 2012

AUSTRALIA - Australian bulk grain handler GrainCorp is set to start producing and exporting edible oils.

The company has bought oilseed crusher Gardner Smith and oils packaging company Integro Foods for a combined sum of A$472 million, reports ABCRural.

Grain Corp chief executive Alison Watkins says the new business, GrainCorp oils, will be looking for more Australian oilseeds.

"The Australian crush industry is able to do around a million tonnes (per year), but the Australian crop this year will be something like three million tonnes," she said.

"There's great export demand for canola seeds as well, so for farmers growing canola, there'll be good strong onshore demand for domestic crush but also strong export demand for seed."

US-owned competitor, Cargill, was knocked out of the bidding process in July by the Australian Competition and Consumer Commission.

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