Australia's competition watchdog cleared Cargill's A$1.24 billion acquisition of the commodity management business Agrium acquired with its takeover of Australia's AWB.

"The ACCC concluded that the proposed acquisition would be unlikely to enable Cargill post merger to depress prices paid to growers for grain or raise prices of grain to domestic customers due to the presence of the remaining grain traders,"  Australian Competition and Consumer Commission chairman Graeme Samuel said in a statement.