STOCK-exchange operator NZX has bought another Melbourne-based grain business.
NZX has bought Australian Crop Forecasters, less than two months after buying electronic grain-trading marketer CLEAR Grain Exchange.
Australian Crop Forecasters, headed by Ron Storey, publishes a monthly report on Australian grain supply and demand.
Customers include grain companies, listed companies, farm input suppliers, agribusiness organisations in Australia and leading grain export and import countries internationally.
In October NZX bought CLEAR for approximately $6.4 million.
If significant trading volumes are achieved over three years, an additional payment will be made.
CLEAR was established last year by former AWB Limited trading manager and Agfarm grain brokerage and advisory service founder Bob McKay, and former St Kilda Football Club coach Grant Thomas.
