ACCC rejects GrainCorp, CBH, ABB Grain port plans

Antitrust regulator the Australian Competition and Consumer Commission on Wednesday rejected proposed undertakings provided by GrainCorp Ltd., Cooperative Bulk Handling Ltd. and ABB Grain, a unit of Canadian-based Viterra Inc., covering access to their port export facilities by competitors.

In early August, the companies were told by the ACCC to revise their access undertakings.

In separate statements on Wednesday, the ACCC said it wouldn't accept the proposed separate undertakings by the three companies in their current form.

The three companies are obliged to have access arrangements for competitors in place by October 1 in order for their trading operations to retain accreditation to export bulk wheat under the Wheat Export Marketing Act, the ACCC said in a statement.

The ACCC said it will endeavor, where possible, to assess any revised undertakings by the companies before October 1 but this will depend on how swiftly these are lodged.