GrainCorp gets port exemption
GrainCorp can now compete more easily with rivals, after the competition watchdog decided the grains handler's port terminal services in Newcastle will be exempt from some regulation.
The Australian Competition and Consumer Commission has granted an exemption for GrainCorp's Carrington grains terminal under a new mandatory code that ensures bulk wheat exporters have fair access to terminal facilities.
The watchdog said the exemption would place GrainCorp on a more level playing field with competitors that are not currently subject to the code.
"This would be in GrainCorp's legitimate business interests as it would allow it the flexibility to better match competitor services and reduce its regulatory costs for the Carrington facility," the ACCC said.
The ACCC said competition in bulk wheat export operations at the NSW port of Newcastle would constrain GrainCorp's ability to favour its trading arm to the disadvantage of other wheat exporters.
