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A major integration agreement between the online CLEAR Grain Exchange and GrainCorp, Australia's largest bulk handler of grain, has gone live today.
This harvest, GrainCorp and CLEAR have entered into an agreement to provide growers with a simple way to view their GrainCorp inventory online, view current market prices and set their own price to sell via CLEAR.
Any grain grower storing their grain at one of GrainCorp's 250-plus sites will have a CLEAR account automatically created for them to sell their grain.
Using CLEAR, growers can set a price on their grain, marketing it directly to 200 traders representing more than 90 leading buyer organisations. Unique to the industry, growers who sell their grain via CLEAR receive payment within seven days of sale, and always retain title to their grain until full payment is received from the buyer.
CLEAR CEO Grant Thomas said, "This is a significant development for the Australian grain market and an exciting project between CLEAR and GrainCorp that will provide a seamless and secure one-stop marketing alternative for the industry.
"The integration links growers' tickets seamlessly and confidentially between the GrainCorp stock system and the CLEAR online grain market platform. Growers using CLEAR to sell grain warehoused with GrainCorp can do so with ease all year round, without the need to transfer grain manually from GrainCorp warehousing, which is a big advantage," said Thomas.
GrainCorp Managing Director Mark Irwin said, "The link between the GrainCorp stock system for growers with grain in warehousing and CLEAR is a great initiative. It provides more marketing choice for growers and this is consistent with our strategy of making GrainCorp storage sites the preferred market place for growers and the grain trade."
ENDS
CLEAR Grain Exchange is the Australian grain industry's only full-service electronic market for the trading of grain. CLEAR is a wholly owned subsidiary of NZX Limited. Visit www.cleargrain.com.au for more information.
GrainCorp operates storage and handling facilities across Eastern Australia, and is the worlds fourth largest commercial malt producer, with malting operations in Canada, the US, the UK and Australia. Visit www.graincorp.com.au for more information.
