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News 201 views last update:6 Aug 2012

Bunge named as partner for Australia's AWB

Industry rumours say that US agribusiness giant Bunge Ltd heads a list of potential joint venture partners for Australia's AWB Ltd.

AWB once was the sole wheat exporter in Australia, but after deregulation last year its market share eroded to just 23% as domestic and international traders entered the Australian wheat market.
 
AWB already announced last week it was talking to a global trader to strengthen its position, but declined to say names.
 
Several AWB employees left the company and joined Bunge and these now point at their new employer as the possible partner for AWB.
 
AWB may be an interesting partner for Bunge since the global trader does not have a ready to go team for grain acquisition at the grower level while AWB does, insiders say.
 

Dick Ziggers

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