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        Construction underway at CBH Agri Terminal in NSW

        Date:Nov 27,2012

        Mr Craig estimates the CBH Group acquires 25 per cent of grain from the eastern states.

        "It's a relatively small amount but obviously we would like to expend that into the future."

        At the CBH AGM earlier this year, it was confirmed that CBH grain lost $23 million in the east coast in the harvest year 2010-11.

        Mr Craig says losses like that is part of trading industry.

        "I think its access, you need logistical access and you need port capacity and facilities in eastern Australia to be able to effectively trade in the large volumes," Mr Craig said.

        "Like any trading business there's a lot of risk and in some years obviously you make money and some years you don't do so well.

        "CBH grain and the grain pool previously has a very good record, I think there's only two years in approximately 90 years that it has lost money and I think that's a pretty good record."

        Mr Craig adds there has been no new buildings for over 25 years in New South Wales, in terms of port facilities.

        "The government of NSW is, through its grain supply chain review, identified Newcastle as a major port.

        "There's a lot of infrastructure in terms of rail etc and I think us adding value there by having a brand new port, whilst a small port, I think that terminal has a lot of advantages and hopefully we can provide access to both the farmers of NSW but also for CBH grain to be able to export to its customers."

        The terminal is currently in the construction phase with a completion goal of late 2013.

        TypeInfo: news

        Keywords for the information:ceiling grids