Plum Grove Public Announcement 25th October 2019

Plum Grove Public Announcement

Australia’s grain marketers have experienced a difficult period. Continued drought across the East Coast of Australia leading to high prices, competition from the Black Sea and South America and the ongoing unresolved Chinese anti-dumping investigation has led to unprecedented volatility and loss of market share for Australia in our traditional markets.

In this backdrop Plum Grove shareholders have made the strategic decision to stand aside from participating in Australian grain accumulation until production and pricing stabilises.

Like all businesses we have had to make difficult decisions and reduce our cost structures going forward to minimize our risk considering this strategic decision. 

What does this mean for 2019/2020 harvest?

It means we will be reducing some of our staff or provide them the opportunity to take some extended leave.  Our Fremantle office will remain operational enabling Plum Grove the ability to resume grain accumulation when the situation changes.

If you have any questions regarding this statement, please contact Andrew Young - 0417 176 054 or Rikki Foss - 0429 909 799