Relief after NSW Grains Board deal

31 Oct, 2000 03:00 PM
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NSW growers will not have to fund the financial losses of the New South Wales Grains Board. The statutory marketer has announced an agreement with Queensland-based grain handler and trader Grainco Australia. In a agency deal worth more than $20 million, Grainco Australia will get exclusive access to export rights for NSW barley, canola and sorghum, and the domestic vesting rights for NSW in malt barley for the next five years. In addition, Grainco Australia will undertaken all of the other operations and services provided by NSWGB such as servicing international and domestic customers, and offering competitive prices on cash trading and pools. NSWGB chairman Don Hubbard said the 1999-2000 barley pool payments would be expected to be paid in the normal timeframe, with the first interim payment within the next two months. NSW Farmers' Grains Committee chairman Keith Perrett applauded the fact the deal had been put in place prior to harvest, and the growers were not picking up the tab for the Board's losses. "Now this has been achieved, we support the fullest possible inquiry into the circumstances behind the accumulation of the Board's debt," he said. "Until that inquiry has been conducted, the Association sees no point in speculating about who may or may not be responsible."

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