New Zealand Stock Exchange buys Australian grain firms

The New Zealand Stock Exchange (NZX) is quietly buying Australian grain trading and farm analysis companies.

Last year, NZX purchased Western Australia-based ProFarmer, and it recently bought both the Clear online grain trading business and Australian Crop Forecasters.

NZX chief executive Mark Weldon said they have been interested in Australian grain analysis companies ever since the industry was deregulated.

NZX is interested in the agriculture sectors across New Zealand and Australia, Weldon said.

He said the exchange is buying because the AWB monopoly was disbanded, the market is finding its feet and finding out how it works and NZX thinks there is a real opportunity to benefit the growers.