Many big companies of Australia are buying grains on a large scale
20-Nov-2024 10:18 AM

Many big companies of Australia are buying grains on a large scale
It looks like the grain purchasing activity in Australia, particularly by companies like Viterra and GrainCorp, has been quite robust recently.
Viterra's Purchases:
Total Grain Purchase: Viterra has bought a total of 11.05 lakh tons (1.105 million tons) of grains from South Australia and West Victoria as of last Saturday.
Grains Included: This total includes various types of grains, such as wheat, canola, barley, lentils, and gram.
Recent Purchases: Last week, Viterra saw a significant addition to its stock, with 1.2 lakh tons (120,000 tons) of grains arriving/purchased on just Friday alone.
Prioritization by Farmers:
In some areas, Australian farmers have focused more on harvesting wheat and barley than lentils, possibly due to market conditions or crop yields.
GrainCorp's Activity:
Another key player in the Australian grain market, GrainCorp, is also purchasing grains on a large scale, similar to Viterra, which indicates strong demand across the sector.
Key Insights:
High Grain Demand: The large-scale purchases by both Viterra and GrainCorp suggest a strong demand for grains, possibly driven by both domestic and international market factors.
Crop Priorities: The shift in focus by farmers towards wheat and barley could reflect either better prices for these crops or more favorable growing conditions compared to lentils.
This situation could indicate a healthy grain market in Australia, with companies actively purchasing grains to meet both domestic and export needs.