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Plum Grove sets pools benchmark

Countryman

South Australian and Eyre Peninsula growers are set to enjoy greater competition for their grain this harvest after Plum Grove and FREE Eyre launched a new grain accumulation agreement today.

FREE Eyre will establish new subsidiary Free Eyre Grain that will exclusively accumulate cash and pool-based grain for Plum Grove throughout SA.

FREE Eyre executive officer Mark Rodda said the announcement coincided with a restructure of the grower-owned company to focus on the grain accumulation business as well as Eyre Peninsula farmers.

"We are excited about the prospects for Free Eyre Grain and for our shareholders under the agreement with Plum Grove," he said.

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"Plum Grove has set the benchmark in pool performance and transparency, and is set to play a larger role in the South Australian cash market based on the demand of its shareholders, which includes Mitsui, Seaboard and the Salim Group."

There will be many benefits under the new agreement, according to Plum Grove executive chairman Andrew Young.

"For growers, we will aim to introduce a whole range of improved services - increased competition for their grain, greater transparency and communication, a range of pricing options and easy access to information," he said.

"In return, working with a grower-controlled company like FREE Eyre clearly provides us and our shareholders with increased access to South Australian grain."

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