Issuing a draft decision, Australian regulators have approved GrainCorp Ltd's (ASX:GNC) proposed wheat port access arrangements for the period between October 2011 and September 2014.
The Australian Competition and Consumer Commission says the proposed undertaking relates to wheat exports at grain terminals operated by GrainCorp in Queensland, New South Wales and Victoria.
GrainCorp must have access arrangements in place before the 1 October 2011 to hang onto its accreditation to export bulk wheat.
The ACCC says GrainCorp's current access arrangements have successfully allowed access to its port terminal services by wheat exporters, and, it is appropriate for the existing arrangements largely to continue.
In the year to 30 September 2010 GrainCorp posted a net profit of $80.2 million.
GNC Price at posting:
$7.38 Sentiment: None Disclosure: Held
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