Glencore, the world's largest diversified commodities trader, is considering the sale of Australia's largest malt producer, a source familiar with the matter said Thursday.

Glencore acquired Adelaide-based Joe White Maltings, set up during the 1850s Gold Rush, through its acquisition of Canadian grain handler Viterra last year.

The Joe White business, which has built or bought malting operations in five Australian states, came to Viterra when the Regina company bought Australia's ABB Grain in 2009.

ABB Grain had owned Joe White since ABB's merger with AusBulk in 2004; AusBulk had bought the Joe White business in 2002 and merged it with its Adelaide Malting Co.

Malt, a processed form of barley, is the basic ingredient in the production of beer.

Glencore has hired Bank of America Merrill Lynch to advise on the sale, the source said. Glencore and Bank of America Merrill Lynch declined to comment. -- Reuters