World Grain - December 2024 - 12

NEWS REVIEW
CHS upgrading North Dakota grain terminal
ST. PAUL, MINNESOTA, US - CHS Inc. is expanding and
upgrading its grain terminal at Kindred, North Dakota, US,
improving speed and space at the facility, which upon completion
will have an overall storage capacity of 5.2 million bushels
in a key production region.
The project will replace existing steel bins with concrete
operating space with storage capacity of 890,000 bushels.
Removal of the steel bins is expected to begin later this year,
and construction on the new concrete storage is tentatively
slated for 2025. The facility is expected to be finished in
late 2026.
GrainCorp net profits lower in fiscal 2024
SYDNEY, AUSTRALIA - GrainCorp underlying net profits
after taxes were A$77 million ($49.75 million) in fiscal year
2024, down substantially from A$250 million in fiscal 2023
amid lower grain production volumes, even as the Australian
agribusiness crushed record volumes of canola. Underlying
earnings before income tax, depreciation and amortization
(EBITDA) were A$268 million in 2024 compared to A$565
million for the year ended Sept. 30, the company said.
The Nutrition and Energy segment reported EBITDA of
The Kindred facility provides energy, grain and agronomy
at a centralized hub. The site enhancements are expected to
include a new loadout and two high-speed receiving dumps to
increase efficiency and bring area farmers even more market
access to the Pacific Northwest grain corridor and important
regional markets.
The facility also has rail lines that feed into the Red River
Valley and Western Railroad Co., a regional short-line railroad.
This rail access links the Kindred grain terminal to a
new soybean crush plant and existing ethanol plant in nearby
Casselton, North Dakota.
A$134 million in 2024, a drop from A$202 million the previous
year. GrainCorp's oilseed processing facilities crushed a
record 540,000 tonnes of canola seeds, a jump from 496,000
tonnes in 2023.
In Agribusiness, EBITDA was A$162 million in 2024,
slumping from A$351 million in 2023 on lower grain production
volumes from East Coast Australia (ECA) and Western
Australia. Total grain handled from ECA was 28 million
tonnes in 2024, compared to 37.4 million in 2023.
Latvian regulators OK Elagro Trade acquisition
RIGA, LATVIA - The Competition Council of Latvia has
approved the acquisition of SIA Elagro Trade, a grain, seed,
crop protection and fertilizer business, by SIA Linas Agro, an
indirectly controlled company of AB Akola Group.
Operating since 2010, Elagro Trade is one of Latvia's leading
agribusinesses with more than 15% of the country's total
grain market, and grain receiving facilities and regional offices
across the country, Linas Agro said.
Initially announced in September, Linas Agro agreed to buy
Elagro Trade for a preliminary price of €22 million ($23.9
million), with the final price subject to the net working capital
of Elagro Trade at the closing date.
ForFarmers volume, profit up in third quarter
LOCHEM, NETHERLANDS - ForFarmers saw significant
volume growth and profitability in the third quarter ended
Sept. 30 due to cost control and a market-oriented approach,
the company said.
The feed solutions company reported gross profit of €127.3
million ($138.4 million), an increase of 6.3% compared with
the same quarter a year ago.
Volume grew 6.1% to 2.17 million tonnes with compound
feed volume increasing by 2.8% to 1.48 million tonnes.
As expected, turnover in the third quarter fell 4.5% compared
to last year to €665.4 million, driven entirely by a decline
in raw material prices. The decrease is clearly leveling
off compared to previous quarters, the company said.
12
December 2024 / World Grain / www.World-Grain.com
http://www.World-Grain.com
World Grain - December 2024

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