The ACCC has not yet made a final decision on whether to accept the Proposed 2011 Undertaking. However, as outlined in its draft decision, the ACCC's preliminary view is that an auction system would address its main areas of concern. The ACCC will now engage in public consultation on its draft decision.
Viterra continues to work with the ACCC to ensure a timely decision is made to accept the Proposed 2011 Undertaking. Viterra has provided a Revised Draft of the Proposed 2011 Undertaking submitted on Dec. 23, 2010, which includes the implementation from mid-2012 of an auction system for managing the allocation of bookings on the shipping stem.
Viterra remains confident it will meet the ACCC's requirements to gain approval for its Revised Draft 2011 Undertaking by Sept. 30, in order to attain renewal of its bulk wheat export accreditation from Wheat Exports Australia from Oct. 1.