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Glencore Agriculture offers faster payment to growers


Glencore Agriculture has moved to 5 days end of week payment terms for growers across Australia for grain, oilseeds and pulses sold from approved bulk handlers.

Glencore Agriculture General Manager Accumulation and Grower Services Andrew Wilsdon says the faster payment terms are backed by the financial strength of being part of a leading global agricultural commodity business.

“Our change to 5 days end of week payment terms from 12 days end of week applies to all new contracts and future cash transfers at bulk handling sites,” Andrew says.

“We are responding to feedback from growers who are seeking shorter payment terms to minimise risk and improve cashflow.”

Glencore Agriculture’s business is backed by its shareholders, Glencore, Canada Pension Plan Investment Board and British Colombia Investment Management Corporation, which supports its position as a global leader in the sourcing, handling, processing and marketing of agricultural commodities and products.

“Glencore Agriculture owns significant assets around the world, and in Australia includes the Viterra storage and handling business which has more than 10 million tonnes of storage and six port terminals in South Australia.

“We are one of the largest buyers and exporters of Australian wheat, barley, canola, sorghum and pulses since we established in Australia more than 15 years ago.

“We buy direct from growers with grain merchants located in Western Australia, South Australia, Victoria, New South Wales and Queensland.

“We have close relationships with international end-users through our network of marketing offices across the world. Combined with our assets and logistics networks, this enables us to offer growers consistent, competitive prices,” Andrew says.