Mitsui announced it plans to triple its exports of Australian grain within the next five to six years. The company plans to account for 10% of Australia’s grain handling and exports through supplying the Japanese, Chinese, and Southeast Asian markets. To achieve this target would mean exports of approximately 3 million tons of grain per year based on Australia’s national harvest of 30 million tons. Toward this end, Mitsui plans to invest heavily in infrastructure and joint venture opportunities. The company is eyeing storage, handling, and port assets in Western Australia, but plans to have a large presence on the east coast as well. Currently Mitsui ranks sixth on the list of Australia’s wheat exporters behind CBH, Glencore, Cargill, GrainCorp, and Emerald. Mitsui chairman Yasushi Takahashi states that Mitsui’s new focus is now on agriculture through which the company plans to expand its multi-billion dollar interests.
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