NEWS
ADM Aims to Keep GrainCorp Ports
Fri May 31, 2013 09:16 AM CDT

SYDNEY (Dow Jones) -- Archer Daniels Midland Co. aims to retain ports owned by GrainCorp. Ltd. after it completes a A$3.4 billion (US$3.3 billion) takeover, a move that risks intensifying divisions with Australian farmers who fear being locked out of vital export infrastructure.

The U.S.-based company, known as ADM, says farmers will get higher prices and better access to fast-growing food markets like Asia and the Middle East if it becomes one of Australia's largest grain exporters.

Acquiring GrainCorp would give ADM control of seven of the eight ports that handle 90% of grain shipments from Australia's east coast, the ...

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