The Canadian Grain Commission has issued a primary elevator licence to Singapore-based commodities trader Agrocorp International, the new owner of Saskatchewan-based grain handler Veikle Grain.
Earlier this year, Agrocorp en-tered into an agreement to buy Veikle Grain, located at Cutknife, Sask.
The deal gives Agrocorp a fourth grain handling location in Western Canada and boosts the company’s total handling capacity in Canada to around 400,000 tonnes per year.
Agrocorp’s other western Canadian facilities are located in Moose Jaw, Sask., Fahler, Alta., and Innisfail, Alta.
The Veikle facility at Cutknife is located along a Canadian Pacific Railway main line.
“We continue to accelerate our bulk vessel and containerized business in Canada, both in major grains and specialty crops,” said Colin Topham, managing director of Agrocorp Canada, in a recent news release.
“As Canada transitions to become the major supplier of protein for the world’s growing population, we at Agrocorp are excited to be a part of this story.”
Agrocorp International is a global commodities trader with annual revenues of more than US$1.9 billion.
It operates in 13 countries and handles more than five million tonnes of commodities a year, in-cluding sugar, grains, pulses, rice, oilseeds, cotton and raw cashews.
“Agrocorp has been doing business in Canada for the last 25 years and we are looking forward to intertwining our own growth with the local agricultural community there,” said Agrocorp managing director Vijay Iyengar.
“The work does not stop here and we hope to announce more such acquisitions in the near future.”