Grain logistics company Graincorp Limited
(ASX:GNC) has scored a regulatory win for its Newcastle bulk grain facility.
The Australian Competition and Consumer Commission (ACCC) has reduced regulation at the terminal to boost competition for the export of bulk wheat.
The competition watchdog believes Graincorp will now have greater flexibility to compete against the two bulk wheat export operations at the Port of Newcastle.
At the time of requesting the ACCC’s regulatory review last year Graincorp says it was disadvantaged from increased competition.
Graincorp reported a net profit of $50 million in the first half of the 2014 financial year.
