Bunge Agribusiness Prize Winner Announced 16-05-2016 13:12 PM

Mr. Kevin Bushby from north Lake Grace was announced as the prize winner of this years Bunge Agribusiness grower survey. Mr Bushby and his son Cameron crop approximately 4000 hectares of wheat, barley and oats on their mixed cropping and livestock property.
Since the opening of Bunge’s Bunbury Terminal the Bushby’s have delivered grain direct to Bunbury Port, and last season also utilized the new Bunge facilities in Kukerin and Arthur River.
“We are able to deliver direct from farm to the Bunbury terminal, which allows us to have more control over our supply chain costs and benefit from backloading from Bunbury, which effectively reduces our overall farm freight costs” Mr Bushby said.
“We store the majority of our grain on farm off the header. Last year we used the upcountry Bunge locations at Kukerin and Arthur River to deliver direct at harvest, which was helpful for cash flow and the site grain prices were good value” Mr Bushby said.
“My son and I both cart grain to the sites and are really impressed with the efficiency, especially the speed of unloading at the Port, it is a great system. “
“From our location the distance to deliver to Perth, Albany or Bunbury is basically the same. We find Bunge’s delivered grain contracts offer good value and work well for our business” concluded Mr Bushby.
Bunge’s WA Regional Manager, Christopher Tyson, thanked all the growers who participated in the survey, he said “We know it’s important to listen and wanted to ensure we gave growers a direct voice. We are very pleased with the response we got from growers. The results gave us confidence we are on the right track with our investments in WA, and getting the direct feedback from growers will mean we will be able to focus on improving our products and services in the areas that are important to local growers”.
To thank the growers who participated in the survey, Bunge will donate more that $1700 to local Rural Fire Brigades, “we believe it’s important to support the local communities who support us” Mr Tyson said.
Bunge has made significant infrastructure investments in the WA grains industry and operates an export terminal at Bunbury and grain receival facilities’ located at Arthur River and Kukerin.

Weekly Market Comment 2nd May 2016 02-05-2016 10:22 AM

Money Flows continue to dominate market space

The wheat market continued to show buoyancy in the wake of a growing global balance sheet. Fundamentally the supply side continues to grow and pose doubts at current price levels. Rain in the US plains laid rest to many of the concerns this crop was destined for drought conditions. On a broader base US crop conditions look in better condition than this time last year and Europe and the Black Sea look to paint a similar picture. To add to the bulls worries the International Grains Council lifted 16/17 production to the tune of 3mmt. This being said the bulls tried to highlight the fact it is dry in Australia, Canada and North Africa. The reality is that the driver of the market last week really had nothing to do with any fundamental factors. Many traders grasped at fundamental concepts to justify why or why not the market should be where it is, but when all said and done this was a fund market that was looking to take risk off the table. When the dust settled the week finished the week up to the tune of 4 to 15 cents and with the commitment of traders report showing the funds still remain 60,000 contracts short, another week of markets directed by money movements looks to be on the cards.

We talked a bit last week about the Australian Dollars lack of ability to break out of the top side of the range having a negative impact on the dollar going forward. This seemed to rain true last week as the dollar slipped lower for the week finishing around the 76 level. This week’s RBA meeting will set the tone for the Australian Dollar in the coming weeks. The RBA’s stance on interest rates this year has been much softer in 2016 than the latter half of 2015 where they openly looked to jawbone the dollar lower. Many analysts are expecting this to change at this RBA meeting with the recent CPI numbers pointing to a slowdown in the Australian economy. We are now seeing over 50% of analysts interviewed leaning to a cut in local interest rates this week. Interest Rates cuts will weigh in on the currency as it reduces the attractiveness of the carry trade going forward. The commentary from this meeting will also be heavily dissected to get an idea of the RBA’s longer term view on where it see’s the economy and ultimately the Australian Dollar from a trading partner point of view. As strong as the RBA data will be this week in direct influence to the Australian Dollar the US market will also provide plenty of influence in the medium term. With the broader market expecting US weakness over the coming weeks the Aussie may be a passenger in some of its moves. Whatever happens over the coming weeks not unlike the wheat market we look to be in an increasingly volatile market? Technically the Australian dollar looks to have found some support going into this week’s RBA meeting. Resistance resides at 76.96 which if broken opens up the door to test the 77.86 level. On the downsides 75.48 looks to be a key support level which if broken could open up the 74.50 level.

Locally the wheat prices for old season look to have lost some of the aggressive bidding seen early in on the Chicago rally. From a local standpoint the market looked to be a little short in the WA market and used the recent rally to buy their requirements. These levels of $280 saw large amounts of grain come to the market, which saw many traders fill their needs and retract from the market. Traders look to have moved back to their more cautious approach of only buying grain for their requirements and not looking to hold grain blind in a highly price competitive environment. Feed Barley has also had a bid over the past two weeks as the market has moved back towards the $210 level. The recent pullback in the Australian Dollar has also helped buyers push feed barley values higher. As seeding rigs across the wheatbelt look to be out and about, many growers are starting to focus on new crop prices which look very good when compared to the current balance sheet and Northern Hemisphere crops. Bunge Bunbury prices of $285 should be considered if these meet your budget requirements. With the outlook of cereals looking less than impressive, above levels would not be a bad number as part of your pricing structure. New crop Canola has also found some support as it starts to work into Europe. With Can1 up around $550 and Cag1 over $500 growers are looking to lock in some numbers as their crop emerges from the ground with good subsoil moisture.

Volatility looks to be the key over the coming weeks, not only the grain market but the currency market as well. With seeders stepping up the pace growers should look to this volatility to provide some good pricing opportunities in a fundamentally heavy market. New season prices at $285 and the onset of alternative routes to the export markets attached to good subsoil moisture growers look to be in for some exciting times. Saying this as we all know there is a long way between planting and delivering the grain and this is not only true for us, but also Northern hemisphere crops. If you are looking to sell your grain stored on farm or would like to see how Bunge can help your farming enterprise for the coming harvest or you simply like to join the Bunge daily email list for prices and market news please call the Bunbury Office on 9729 9500 or myself on 0417 999 632 or email us at [email protected]

Bunge increase Local Field Staff 29-04-2016 10:10 AM

Bunge Agribusiness Australia continues to increase its commitment to the WA grains industry with the announcement that Sonia Harris, will be joining Bunge as our Regional Accumulation Manager based in Nyabing.
Bunge’s WA Regional Manager, Christopher Tyson said “we’re pleased to attract someone of Sonia’s calibre to Bunge to work with WA growers. As we continue to grow, Sonia will play a key role in this growth as we work to bring growers more choice and value when marketing their grain”. He added, “Sonia has a depth of grains industry experience having worked for several grain marketers in WA, most recently with Emerald Grain based in Nyabing”.
“We know it is important to ensure we have local presence, so Sonia’s local knowledge and home base in the Great Southern is an important part of this, and we believe it will mean better and more localised service for growers” Mr Tyson said.
Mrs Harris said “I am looking forward to continuing to offer secure grain marketing products and services to WA growers, and am excited about being part of Bunge’s investment in the WA grains industry. With the benefit of being based upcountry near Bunge’s Kukerin and Arthur River receival sites it will enable me to work at a local level with growers to bring them value, while increasing utilisation of the Bunge facilities”.
Bunge has made significant investments in the WA grains industry and operates an export terminal at Bunbury and grain receival facilities’ located at Arthur River and Kukerin.

Weekly Market Comment 18th April 2016 18-04-2016 11:32 AM

Weather will remain key

The wheat market was put on the back foot last week as the bearish fundamentals kept hitting the market. Early on in the week the market was pushed lower on the back of better forecasts for the US plains, which is the problem spot on new crop wheat in the Northern hemisphere. Pair this up with export sales that continue to disappoint (in fairness US wheat at current levels it would be hard to say this was unexpected) and the market continued to remain under pressure. The USDA report was neutral to bearish with US ending stocks at their highest level in 29 years and global stocks at their highest level on record mainly due to China shifting 2 mmt from corn to wheat. Once again these numbers are fundamentally bearish but they came as no surprise to the market with these numbers in line with expectations. Lucky for the wheat market the Chicago chart does not look as daunting as some of the other agriculture commodities, which saw a fund inspired rally mid week. When the dust settled for the week we saw the market finish near unchanged on the back of a 20 cent trading range. This highlights the strengths the money markets are having on the wheat complex. When the fundamentals continue to sink in the boots, the market looks to be reluctant to increase their short position significantly when the Northern Hemisphere crops have so far to go. Weather and external money markets will continue to dominate the wheat complex in the short term.

The Australian Dollar had another positive week making new highs at 77.40. The Australian Dollar has had more of a positive sentiment since recent dovish comments by the US Fed Chair Yellen triggered weakness in the US. This recent move upwards on the back of a weaker US has been met with a declining base metals index. Even with the Australian government’s pursuit of a more balanced economy, the correlation between industrial metals and the Australian Dollar still runs above 0.80. This has seen the Australian dollar move into a more of a consolidation phase as it balances up the outside influences in the current market place. The market is coming under pressure early this week as oil prices have moved lower. Technically the failure of recent attempts at the top end of the range may look to negatively impact the dollar in the short term. Immediate support lies at 76.72 and if broken could open up 76.30 and ultimately the 76 cent level. On the upside 77 seems to be the key resistant point in halting the current downward move.

As another wave of rain hits the wheatbelt, farmers look to be moving on from their recent canola plantings to cereals. The earlier than expected start has caught many farmers on the hop. With a round of showers over the weekend farmers will look to commence their cereal plantings into good soil moisture. With temps still on the warm side and a good moisture profile underneath, we should see a good germination on these crops. The WA market continues to mirror the international market and push lower. With unsold tonnes at record highs in WA and prices not enticing grain onto the market, farmers are continuing to hold their grain in warehouse. As the season progresses and farmers look to access cash flow, grain coming onto the market will ultimately depress local grain prices. Asian demand continues to be slow with multiple sellers looking to sell into this market. Upside price movements will be driven by Northern Hemisphere crops and the continuation of the dry start on the East Coast of Australia. Australia’s east coast is getting more attention over the past fortnight as the dry start continues to weigh in on the market. This is in light of recent changes made by the Australian Weather Bureau of a shift towards a La Nina environment in the coming months.

The market continues to be caught in a position where old season stocks have grown to the tune of 25mmt from last year, and are looming over the current market. This is providing a good buffer for any perceived crop issues in the Northern Hemisphere. With dryness in Canada and the East Coast of Australia attached to Northern Hemisphere crops having a long way to go, we are still in for some interesting times in this market. Throw in some influence from external money markets and there is sure to be some volatility in this market if any issues arise. Growers should look to take advantage of this volatility and the price spikes it brings to the market. If you are looking to sell your grain stored on farm or sitting in warehouse or you simply like to join the Bunge daily email list for prices and market news please call the Bunbury Office on 9729 9500 or myself on 0417 999 632 or email us at [email protected]

Weekly Market Comment 11th April 2016 11-04-2016 09:55 AM

Market grinds lower as Rain Falls

The wheat market was down to the tune of 15 cents over the past week as wetter forecasts were put in place for this week. With wetter weather on the horizon attached to better than expected new crop condition reports, Chicago wheat looked to take the path of least resistance and move lower. Exports continue to be slow out of the US and way behind current USDA forecast numbers. Across the Atlantic there were some rumblings early in the week of some problems in Russia, Ukraine and Romania, but the market took little notice of this talk as it looks to be way too early to be killing off these crops now. In the flat price environment protein spreads are closing up, as the current short in the feed wheat arena has seen feed trading at less than a $10 discount to 12.5 protein wheat in the Black Sea area. Overall we are seeing more of the same in the international market, as old crop stocks continue to exceed demand. Match this with new crops in better shape than last year and it is easy to see why the market is finding it hard to find upside momentum in the current environment.

The Australian Dollar started the week with a bit of a pop but was short lived as the market took a turn for the worse, before oil prices and a weaker greenback stabilized the market, seeing the Australian Dollar closed down 80 points for the week.. The RBA left interest rates on hold but eluded to their dislike of the current currency levels and the effect this has on the broader Australian economy. Oil has started the week stronger which should somewhat underpin the local currency. Interest rate cuts by the RBA sooner than later has gained some momentum early this week as analysts are predicting a 30% chance of a cut at the upcoming meeting on May 3rd. The Australian Dollar looks to in a consolidation phase as the recent upward momentum on the back of commodities has been thwarted at a longer term view of the Australian economy. Technically we look to be heading into the week with bearish momentum after last week’s close; saying this market would like to see a break through the 75 cent barrier to open further pressure to the downside. On the upside immediate resistance lies at 75.76 which if broken should see a push to the 76 level.

On the local front wheat prices continue to come under pressure as Argentina and the Black Sea region continue to aggressively price into traditional Australian destinations on the back of the lack of demand in the current environment. Low levels of grower selling looks to be providing an artificial market as current levels seem to be much higher than values needed to generate demand. Growers look to have started the seeding of Canola after recent rains and with further rain forecasted for this week wheat and barley plantings don’t look that far away as the current moisture profile provides an ideal platform for the lower half of the state. Bunge continues to buy and take deliveries to Bunbury as growers with grain stored on farm are utilizing this to backload fertiliser for the current season. Bunge is now pricing Wheat, Barley and Canola for the 16/17 season. This will include FIS Kukerin and Arthur River options as well as Delivered Bunbury and On Farm prices.

The wheat market continues to have a bearish overtone as supply has outstripped demand over the past season which has translated into higher carry out stocks. With buyers remaining on the sidelines sellers are aggressively pricing to reduce their carryout stock levels. This will see continued pressure in the short term put on wheat prices, and with numbers around 30% unsold in WA this will further pressure local prices as this comes to the market. Rumblings of problems in Russia, The Black Sea and Romania offer a glimmer of hope but right now it seems very early to be killing off these crops with vegetation maps still showing much better levels than this time last year. Significant weather issues will be the driver of any upside in the current market and it is this light the bulls will be monitoring the above areas very closely to see if any of these problems materialise. If you are looking to sell your grain stored on farm or in warehouse or you would simply like to have a chat to see how Bunge can help your business for the 1617 season please call the Bunbury Office on 9729 9500 or myself on 0417 999 632 or email us at [email protected]

Weekly Market Comment 4th April 2016 04-04-2016 09:10 AM

USDA points to lower Wheat Acres
The market went into the USDA report last week somewhat unchanged as the forecast for the plains continued on the dry side was negated by the funds looking to extend their short position in Chicago on the back of a broader fundamental picture. The USDA showed March 1 stocks at the highest levels in 5 years, and up 230 mbu from this time last year which was in line with most analyst’s predictions. What took most of the market by surprise and saw the market ultimately push higher was the reduction of intended plantings in the US. Intended plantings were down across the board for wheat but the most significant planting cuts coming from the higher protein plantings which were down 12% on expectations and down 2 million acres from last year. While this saw the bulls come to the market in voice the reality is the carry out stocks that are more than likely to be in excess of 1 billion bushels should easily negate the reduction in plantings. Argentina looks to have a good soil moisture profile which should see an increase in plantings here. There are some rumblings in the market place of concerns in Eastern Australia with the continued presence of El Nino which points to no major breaks before May. Europe continues to be in good shape for new crop which continues to weigh in on the market.
Last week we talked about the 76 cent level being a key level for the market in the short term. Early last week the Australian dollar looked to be under pressure technically as it failed to hold upside momentum. This changed quickly as the US economy and subsequently the US dollar took a turn for the worse, with a very downbeat presentation to the New York Economic Club by the Federal Reserve’s Chair, Janet Yellen. Yellen pointed to a more conservative approach to raising interest rates which pushed the US dollar lower against most major currencies. Technically the US dollar still looks to be in a longer term uptrend and this recent dip should provide a good opportunity to ease overbought conditions. This brings me back to the key level of 76 and while the Aussie dollar managed to hold above this level it has been unable to close above the 76.80 previous high. This looks to be weighing in on the Australian Dollar as this week opens up especially in light of the forthcoming RBA release. There are a number of analysts raising the possibility of an Interest rate cut as the concern of the raising dollar affecting the local economy is becoming a very real threat. Technically if the Australian Dollar can break 76.80 to the upside it opens up a challenge on the 78.50 level. On the flip side 76.39 looks vulnerable in the short term and opens up a challenge to 75.88 in the short term.
On the local front, recent rains have focused grower’s attention to new season crops with many farmers heading to their tractor to fill up with Canola seed. With fresh studies leaning to the growing season moving forward in the year, farmers are much more open to the idea of starting the plantings earlier this year. With recent rains providing a good weed germination which should lead to a good knockdown, further rains in the back end of April should see farmers ramp up their seeding program. Old season values continue to offer little excitement as growers left with grain in warehouse are only looking at pricing grain to satisfy their cash flow requirements. The end of March did see a small spike in local wheat prices as traders closed out their track requirements. This spike was short lived and predominately limited to APW1.
The wheat complex continues to come under pressure as the new crop concerns are easily being outweighed by the sheer size of the current global carry out. Attach this to a lack of added demand for Australian Wheat and there looks to be very real chance that WA will carry out a higher level of wheat than anticipated. With Asian values still being under replacement values locally, the market looks to be under pressure to meet this market. Saying this, we are still seeing a Chicago market heavily bias to the short side in a weather derived market, which may see some short term opportunities for those holding grain. If you are looking to sell your grain stored on farm or sitting in warehouse or you simply like to join the Bunge daily email list for prices and market news please call the Bunbury Office on 9729 9500 or myself on 0417 999 632 or email us at [email protected]

Bunge Loads First Cargo for season 30-11-2015 10:15 AM

Bunge has loaded its first export cargo of 2015 season grain at its Bunbury terminal. The 24,000 tonne shipment of feed barley was loaded onto the MV Glorious Kamagari, destined for the Middle East.
Bunge Australia General Manager Chris Aucote said the Western Australian harvest was making good progress, with grain rolling into the company’s new country storages at Kukerin and Arthur River, as well as direct to Bunbury.
“We’re very pleased to have this first shipment away and we’re building up stocks for more to follow,” Mr Aucote said.“Growers are making good use of our new country sites, which offer full warehousing facilities and now have multiple grain buyers bidding cash prices on a daily basis.
“As more growers explore what our facilities offer we are finding the interest increasing, particularly due to the location and the export pathway they offer our through Bunbury.
“Wheat and barley are coming into both sites, with Arthur River also receiving canola.”
Mr Aucote said the dispatch of this first shipment to the Middle East is likely to be followed by many more, as demand softens in China.
“The Middle East is a traditional market for Australian feed barley, although in recent years a lot of feed barley has been destined for China,” he said.

“China has now built up large stockpiles of feed grain, particularly corn, so we are seeing a lot of pressure in China to reduce further imports until the stockpile reduces.
“The good news for feedgrains generally is that world stockfeed consumption is strong, although the offsetting factor is that the recent northern hemisphere harvest was also very strong, with the barley harvest in the European Union being the largest since 2009/10.
“Longer term it seems likely that demand from China will resume for feedgrains such as corn, sorghum and barley.
“Wheat is actually the major grain we anticipate exporting through Bunbury and with the terminal open to multiple marketers we anticipate it loading ships for many markets.
“In fact, we have a wheat vessel destined for a south-east Asian customer scheduled to load in the first half of December.
“Some marketers will seek to load a whole ship, while in other cases we may do a single hold, or hatch, for an individual marketer, which increases flexibility.
“Western Australian growers should see the benefit of this extra competition flowing through into the prices they receive,” Mr Aucote said.

Bunge opens up-country Receival facilities at Arthur River and Kukerin 22-10-2015 10:14 AM

BUNGE’S up-country sites at Kukerin and Arthur River open today as harvest kicks off in earnest for many growers across WA.The two sites add to Bunge’s receival point at the Bunbury port and on-farm storage options and offer WA’s first inland supply chain outside of the CBH monopoly.

Farm Weekly had an exclusive tour of the Kukerin site last week with Bunge WA regional managerChristopher Tyson as the finishing touches were being made. Kukerin will take all grades of wheat, food barley, Malt barley and feed barley from this week at the Dumbleyung-Lake Grace Road location.

Arthur River, at its location 1.5 kilometres off Albany Highway, officially opened yesterday and is taking all wheat grades, food barley, Malt barley, feed barley and non-genetically modified (GM) canola.

The two sites feature four bunker style storages. Arthur River can take 160,000 tonnes initially with room to expand to 250,000t and Kukerin will start with a 120,000t capacity and space for 250,000t.

Mr Tyson said the two up-country sites added a new aspect to the Bunge infrastructure that would appeal to a wider group of growers. “Our primary goal is storing grain on farm and bringing that in to port, but these sites just help to make everything run smoothly,” he said.

“This is just part of offering another option to WA growers. “I think competition is good and I think in the end farmers will be the winners out of Bunge being here. “There will be people out of this area who will get better prices and outcomes just by having the competition in the marketplace.”

Growers with a National Grower Register (NGR) card can use the sites, which feature automated sampling spears as already used at the Bunge Bunbury site. Use of the NGR card when attending the site allows for minimal paperwork and an internal Bunge barcording system records truck weights on an automated weighbridge.

Mr Tyson said many employees lived locally. “We’ve tried to do as much as possible with local businesses during construction,” he said. “A big thing for us was supporting local businesses and keeping the money locally. “You grow up in these communities and you want to support them and Bunge is a part of the community now so it’s important to invest locally.”

Since it began receiving grain in WA, Bunge has loaded about seven shipments of wheat and barley totalling about 250,000t from its Bunbury Port site.

22 Oct 2015

Farm Weekly, Perth (abridged from original article)

Construction begins at Kukerin 01-10-2015 10:14 AM

Bunge Australia began construction of its inland grain storage site near Kukerin in early June, with the site to be fully operational in time for harvest later in 2015.
The first stage of construction will create bunker capacity for around 120,000 tonnes, intended to expand to 200,000 tonnes over time. A second site is planned at Arthur River, which will commence with 160,000 tonnes and grow to around 250,000 tonnes.
Bunge Australia General Manager Chris Aucote said the storages would be an important part of the supply chain that would provide important benefits to growers, as well as assist in smooth grain flow to port.
“Growers have been delivering direct to our Bunbury export facility since mid-2014, however by providing receival options closer to the farm we can offer more efficient logistical arrangements to suit them better during harvest,” Mr Aucote said.”In planning these sites we discussed with growers what would work for both their needs and ours – locations, transport routes and delivery arrangements and so on, with the conclusion that these two sites would offer good harvest storage options.”Ultimately it’s about providing a solution to each grower that allows them to more effectively manage their harvest and grain delivery, better utilise the storage or transport assets they have available, and produce a better net return for their grain.”At Kukerin where work has started we have worked closely with the Shire Council to ensure we satisfy all their requirements around use and access to the site.”We have purchased the land from a local grower, so we are very much working in concert with the grower community.”Both Kukerin and Arthur River will efficiently feed grain through to Bunbury and on to export customers.”Bunbury has now loaded seven ships and its capability is increasing as all systems are fully bedded-in and all people involved at the terminal – whether staff, commercial carriers or grower carriers – have learnt how to use the facilities to best advantage.“We are look forward to the Kukerin facility being up and running, with Arthur River not too far behind”, Mr Aucote said.

Bunbury terminal full throttle 01-10-2015 10:12 AM

Bunge Australia’s new grain terminal at Bunbury is now six months into full operation and performing well, having loaded its fourth ship in December 2014, with a cargo of barley destined for China. This momentum has progressed well into the new year with a fifth ship planned for mid-January.
Bunge General Manager Chris Aucote said the terminal was meeting expectations and providing the competitive alternative Western Australian growers had been seeking.
“With our fourth ship dispatched in 2014 that brings our total exports to over 120,000 tonnes of wheat and barley, all destined for countries in Asia and the Middle East”, Mr Aucote said.
“We’re on track with where we expected to be by now, due in part to great cooperation from growers and carriers over the six months since loading our first ship in July, with each shipment more efficient and effective than the one before.”We would like to thank those people who have participated, because it’s the whole supply chain, where everyone in the chain is part of making it work, from the farm right into the ship’s hold. The enthusiasm for this new style of terminal in Western Australia is very strong, which has been very encouraging.”For the grower it’s about a combination of grain price and the cost of getting their grain from farm right through into the ship for the best net return, so we have set up in a way to make that possible.”A grower using their own transport equipment, bringing the right grain in when we need it to assemble a cargo, means we work closely with those people whose grain we are exporting.”We are now moving into a time when growers are purchasing lime and fertiliser. Through the storage of grain on farm and delivering to Bunge at Bunbury, the two-way freight they are utilising will reduce growers’ transport costs significantly.”As we move into 2015 we will continue to work with our suppliers and carriers to enhance the terminal’s operations, along with the country network that feeds into Bunbury.”It was a great start for us in 2014, we’ve learnt a lot and we look forward to growing the business in 2015,” Mr Aucote said.

Bunge opens new Bunbury export terminal01-10-2015 10:10 AM

Bunge Australia has officially opened its new bulk grain export facility at the Bunbury Port.
The new terminal was formally opened on 19 September 2014 by Western Australian Minister for Transport, Hon Dean Nalder, alongwith Bunge CEO, Soren Schroder.
The port facility is fully funded by Bunge, and represents a $40 million investment into the WA grain industry. It is Bunge’s first port development in Australia, and is providing WA farmers with an alternate avenue to global export markets, and expanded grain marketing and delivery options.
Mr Schroder said: “The creation of a new, Bunge export infrastructure in Australia is a strategic milestone for our company, and an important addition to the Western Australian grain industry.”“For Bunge, Australia is a key part of our network, especially as an advantaged supplier of our operations and customers in Asia. We have a huge opportunity to supply a growing world with grains, oilseeds and related food products. The facility here at Bunbury will play a role in meeting that opportunity, and in delivering benefits both for our global customers and for the farmers here in Western Australia.”Bunge Australia General Manager Chris Aucote said: “We are very pleased to have completed the construction and commissioning of our port facility on time, and we have already loaded and set sail with our first two vessels from the Bunbury Port.”“This is the first new bulk grain export facility in WA for many years, and we believe it is creating new delivery options for grain growers, and access to price premiums for those growers in the natural Bunbury catchment zone.”The Bunge export facility uses existing infrastructure including a berth and ship loader at the Bunbury Port, and has a storage capacity of 50,000 tonnes, along with state-of-the-art grain receival and testing facilities.Early works commenced on the facility in March 2013. Commissioning of the port was completed in June this year, with the first shipment loaded in July.