A subsidiary of U.S. firm Bunge Limited plans to build a port terminal on Australia’s east coast, boosting competition for the country’s largest agribusiness, GrainCorp Ltd.
“The regulation of our ports means that GrainCorp as an Australian-based company is increasingly disadvantaged against the much larger multinationals behind competing ports,” said a GrainCorp spokesperson, referring to rules that say GrainCorp must offer rivals access to its ports.