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AAP

Business

By Derek Rose

Global glut hits grain handler as farmers hold back

GrainCorp Dan Peled

An international oversupply of grain has led to GrainCorp making a smaller first-half net profit. (Lukas Coch/AAP PHOTOS)

A global oversupply of grain has compressed margins for a leading Australian agribusiness and food processor, putting a dent in its interim earnings.

GrainCorp on Thursday reported a $5 million net profit for the six months to March 31, down from $58 million a year ago.

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