SYDNEY, AUSTRALIA — GrainCorp said on March 24 that it received a draft determination from the Australian Competition and Consumer Commission (ACCC) on GrainCorp’s port elevator access undertaking.

The draft determination is in relation to GrainCorp's revised draft undertaking submitted to the ACCC on Sept. 22, 2010. It contains a number of matters the ACCC requires GrainCorp to address under the new undertaking review process.

GrainCorp will examine the matters raised by the ACCC in the draft determination, and will work with the commission to finalize the undertaking as soon as possible.

GrainCorp is confident it will meet all of the ACCC’s requirements, and that the company will successfully gain approval from the ACCC. This will then allow GrainCorp to commence the process of reapplying for bulk wheat export accreditation from Wheat Exports Australia, and to have that accreditation successfully renewed prior to Sept. 30.