Exhibit 21 SUBSIDIARIES OF THE REGISTRANT YEAR ENDED AUGUST 31, 2002 Wholly owned subsidiaries of the registrant are: Penford Products Co. Incorporated in Delaware Penford Holdings Pty. Ltd. Incorporated in New South Wales, Australia Penford Australia Limited Incorporated in New South Wales, Australia Penford New Zealand Ltd. Incorporated in New Zealand Penford Export Corporation Incorporated in the U.S. Virgin Islands All subsidiaries are included in the consolidated financial statements.