AN INTERNATIONAL trading company is set to exit grain and oilseed origination in Australia with the winding up of ETG Commodities Toowoomba-based operation.
However, ETG Australia, a major exporter of chickpeas and lentils, is to continue.
ETG Commodities registered as a business in Australia in September 2020, and since then is believed to have exported more than 3.5 million tonnes of wheat, barley, sorghum and canola in total from mainland ports.
Grain Central understands the business will be wound down over coming months after all current-crop business has been executed.
Grain Trade Australia today published a member update to say ETG Commodities has decided to wind up its Australian grain and oilseed business “in an orderly and disciplined manner over the next six months”, and that the company’s contractual and financial obligations will be honoured.
“Their decision does not impact ETG’s pulse businesses in Australia. Export Trading Group Australia and ETG Processing trading as Wimpak will continue operating as normal,” the GTA website states.
GTA cites ETG Commodities’ decision to shut up shop in Australia as following a recent review of operations in the Asia-Pacific region.
The ETG Commodities – Australia team, headed by Peter McMeekin, is experienced and respected in trading, execution, and logistics.
ETG’s website said ETG Commodities core focus lies in Africa, where it has an extensive asset base, and specialised operations extending to Central Asia, India, Asia Pacific, and Europe.
ETG Commodities offerings are listed as including oilseeds, grains, sugar, coffee, LPG, minerals, and metals, and the company website said it trades more than 2.5Mt of grain annually.
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