Following the successful $1.6 billion tie-up of Canadian giant Viterra and South Australia's ABB Grain, Viterra has made no secret that in the longer term, it plans to further consolidate in this market and Elders continues to be considered the next step for Viterra locally.

ABN Amro Morgans analyst Belinda Moore says: "We expect further industry consolidation of the Australian agricultural industry."

The article mentions AWB’s Landmark and fertiliser maker Incitec Pivot as among companies that could be part of mergers and acquisitions, also GrainCorp, Nufarm, Australian Agricultural Co, Ruralco Holdings, Ridley Corp, Maryborough Sugar Factory and Warrnambool Cheese & Butter Factory.

Nufarm's focus has been international expansion but it has become the target of China's Sinochem, currently locked in takeover discussions.