World Grain - June 2018 - 97
WORLD GRAIN ARCHIVE
Goodman Fielder Wattie, the
rapidly growing Australasian food
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milling and baking, has agreed to
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milling and baking group of the
Netherlands, for a purchase price of
$37.7 million. The price was actually about twice the stock market
value of Meneba before the acquisition was announced.
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had sales of $467 million and earnings of $1.6 million. This was the
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years of losses ascribed to overcapacity in the domestic milling and
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move into continental Europe,
Goodman Fielder Wattie said: "With
a view to Europe 1992 (referring to
the removal of all customs barriers
that year), it is important to be represented at the core of that market: in
the Netherlands. This will undoubtedly provide us with further opportunities to expand our operation."
tion (NAMA). The appointment was
made at the new group's Executive
Committee meeting in late April in
Santa Barbara, California, U.S.
Prior to assuming her new position, Faga was president of the
American Corn Millers Federation
and Protein Grains Products International. The two associations,
together with the U.S. Millers' National Federation, were merged to
"Betsy Faga's skills will be invaluable in creating a seamless transition
from three organizations to one,"
said Craig Hamlin, president of
ADM Milling Co., Leawood, Kansas, U.S. Hamlin, who was elected
chairman of NAMA at the meeting,
added: "Ms. Faga's hands-on approach and knowledge of members
and issues allows NAMA to be an
effective force in various venues in
which NAMA is involved."
toba Pool Elevators of Winnipeg in
early May said they also planned to
build a $10.6 million grain elevator
with Saskatchewan farmers.
The merger of two wheat pools -
already Canada's second- and sixthlargest grain handlers, respectively
- would create a Prairie-wide,
farmer-controlled grain and agribusiness cooperative with combined
capacity of about 1.5 million tonnes
and revenues of about $3.4 million.
The new elevator will be located
between Naicam and Spalding, Saskatchewan, along a Canadian Pacific rail line east of Saskatoon.
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2008-09 marketing year, the U.S.
Department of Agriculture (USDA)
forecast global wheat production at
a record 656 million tonnes, up 8%
from the year and 5% above the preThe Brazilian market for U.S. vious record set in 2004-05.
time since September 1996, Secre- 642 million tonnes, up 4% from 620
tary of Agriculture Dan Glickman million in 2007-08. World trade was
announced in late April. A waiver SURMHFWHGDWPLOOLRQWRQQHVXS
agreement signed by the U.S. and 6% from 110 million in the current
Warning of the risk of a "devastat- Brazilian governments, he said, im- year. World wheat ending stocks for
ing plague," Edouard Saouma, direc- mediately lifted a ban on U.S. wheat ZHUHSURMHFWHGDWPLOtor general of the Food and Agricul- that was imposed because of the lion tonnes, up 13% from 110 milture Organization (FAO), has urged TCK wheat fungus.
lion in the current year and about
"swift and decisive action" to counNoting that U.S. wheat exports to even with those of 2006-07.
ter an outbreak of locusts threatening Brazil averaged $56 million annuPDMRU FURS GDPDJH LQ 6DKHO DQG LQ ally before the ban, Glickman said,
GrainCorp made a $390 million
Northern Africa. The worst damage "Our research convinced the Brazil- takeover bid for Ridley Corporation
has occurred in Tunisia.
ian government to open its market Ltd. to boost its position as AustraSaouma said that swarms of locusts to U.S. wheat exporters."
lia's leading handler and supplier of
have reached the Mediterranean after
Argentina is the principal wheat agriproducts and bulk production,
invading Morocco, Algeria, Tunisia supplier to Brazil, with up to 4.1 ZKLFKWKH5LGOH\ERDUGUHMHFWHG
and Libya. He warned that this plague PLOOLRQ WRQQHV DQQXDOO\ 2I¿FLDOV
GrainCorp is offering one of its
could be similar to the outbreak of from U.S. Wheat Associates esti- shares for every nine Ridley shares,
three decades ago, which required 10 mated that the United States could equating to $1.30 per share based on
years to overcome.
export up to 350,000 tonnes of GrainCorp's closing price of $11.71
wheat to Brazil during the remain- on May 15. Ridley Chairman John
der of 1998.
.HQLU\VDLGDQXPEHURIPDMRU5LGley shareholders don't support it.
Elizabeth A. (Betsy) Faga has been
Just days before announcing plans He said the government should stop
named president of the newly creat- to merge their operations, Alberta companies from getting too big and
ed North American Millers' Associa- Wheat Pool of Calgary and Mani- powerful in the grain sector.
www.World-Grain.com / World Grain / June 2018