WEST Australian grain trader and bulk handler CBH Group has secured about $2 billion in funding to help pay growers for their crop this harvest.
CBH chief executive officer Imre Mencshelyi said Australia's big four banks - ANZ, Commonwealth Bank, National Australia Bank and Westpac - and overseas specialist agribusiness financier Rabobank had provided a mix of funding facilities.
"Securing this amound of funding amid the currrent global credit crisis is a major achievement and a reflection of our financial strenght and credibility," Mr Mencshelyi said.
"It gives us the capacity to market and fund virtually the entire WA grain harvest this year."
CBH Group will be offering cash prices at Victorian grain storages this harvest.
