DECATUR, Ill. (AP) -- Archer Daniels Midland has signed an agreement to buy a majority share of a Polish vegetable oil producer.

The Decatur-based agricultural processor announced the deal with Elstar Oils S.A. on Saturday.

Elstar is located in northern Poland. Its main activity is rapeseed oil and vegetable fats production. The company manufactures refined vegetable oils and fats for the food industry and biodiesel for the energy market.

ADM says the purchase is subject to approval by antitrust authorities.

ADM reported earlier this month that its fiscal fourth-quarter earnings fell 15 percent despite a $20 million increase in profit in oil seeds processing and a 46 percent increase in revenue.

Copyright 2011 The AP.