Viterra’s newly established $800 million borrowing base facility (BBF) further supports the company’s ability to purchase grain directly from growers, while achieving sustainability targets.
Viterra is pleased to have recently partnered with nine banks, led by CommBank to establish the BBF which is linked to sustainability targets and aims to drive better sustainability outcomes through further promoting the International Sustainability and Carbon Certification (ISCC). It also supports sustainable agriculture efforts overseas, including non-deforestation, through the purchase of sustainably-grown oilseeds for protein meal imports into Australia.
Viterra CEO Australia and New Zealand Philip Hughes said the borrowing facility helps support the company’s purchase of grain direct from growers across Australia.
“We have purchased $2.4 billion worth of grain from more than 8000 growers since November last year and supply it through our network to customers in Australia and overseas,” Philip said.
“We have already exported nearly three million tonnes this season to 25 destinations around the world.”
Philip says sustainability is hugely important for the grain industry and everyone involved, from growers through to consumers.
“We have a long term focus to work with our grower customers to ensure the sustainability of products we export from Australia as well as the products we import.”
The company’s national team purchase grain directly from growers, with offices in Western Australia, South Australia, Victoria, New South Wales and Queensland.
“They have local knowledge in key growing regions and work to develop strong relationships with customers.”
The company also offers five day end of week payment terms and flexible payment options, which is backed by the strength and financial security of the global company which is owned by three shareholders who are investing for the long-term.
“We have a strong global network of assets and infrastructure across 37 countries helping to supply sustainable, traceable and quality controlled agricultural products around the world,” Philip said.