GrainCorp Doubles Number of Its Export Markets

GrainCorp's exports to China have not been disrupted by recent tensions in Australia's relationship with the world's second biggest economy, but the ASX-listed grain handler has almost doubled the number of its export markets to more than 50 over the past year under a diversification strategy.

GrainCorp boss Robert Spurway told The Sydney Morning Herald that the company had very close ties with its Chinese customers and its grain was competitively priced in most markets, which acted as a natural hedge against volatility in the Chinese or any other export market.

Exports will be vital to GrainCorp over the next year or so, with Australia's eastern states now harvesting a grain crop that is expected to equal or better 2016-17's record harvest of 29.2 million tonnes.