NZX acquires Australian Crop Forecasting Pty Limited

NZX acquires Australian Crop Forecasting Pty Limited

01/12/09

NZX has today announced the acquisition of the business assets of Australian Crop Forecasters Pty Limited.

Melbourne-based Australian Crop Forecasters (ACF), which was established in 1979, publishes monthly subscription reports on Australian grain supply and demand. Australian Crop Forecasters has a long standing in the Australian grain market as the lead provider of high quality and independent crop forecasting services.

NZX is a major provider of comprehensive data and information for the agricultural sector, with particular strength in the dairy and grain industries. NZX acquired ProFarmer, Australia's leading provider of agricultural news, commodity market information and strategic grain market analysis in October 2008. In October this year, NZX acquired CLEAR Grain Exchange, the Australian grain industry’s only full-service electronic market for the trading of grain, which has introduced price transparency and significant cost savings to the grain market.

Australian Crop Forecasters owner, Ron Storey said, “ACF has a long history of providing quality demand and supply forecasts on the Australian grain industry, many of our customers have been receiving our services since the company's inception some 30 years ago – a tribute to its founder, Brian Bailey. We have built on what Brian started; the time is right for NZX to take it the next step.”

NZX CEO Mark Weldon said, “NZX recognises the growing importance of agricultural markets and is committed to playing a role in its growth and success of these markets. ACF is a great addition to our set of agri-information products. High quality information and analysis creates an environment where markets can fully develop and people across the sector can make informed business decisions.”

“The ACF products complement the information and infrastructure offerings of ProFarmer and CLEAR Grain Exchange. This is a very strong set of services for the grain industry,” said Storey.

ACF customers include leading grain companies, listed companies, farm input suppliers, agribusiness organisations in Australia and leading grain export and import countries internationally. ACF customers will benefit from access to a wider product set and continued development of existing reports.

Ron Storey and Gavin Warburton will continue with the business.