Recent comments by: US money
Grain of Truth
The VFF only got excited about this deal Gregor, when the National Party drummed up hysteria and anti foreign investment to suit their expedient motives. Farmers have been dealt a massively selfish spin on this deal by the Nats. GrainCorp does not have a monopoly. The grower groups were just led astray from good judgement they initially had.
$500 million would be good investment for our grain handling infrastructure Mr. Joyce.
But we are not really open for business if it has anything to do with the nationals are we. If the nats had their way Cubbie would still be unsold and no one would be buying our land and in fact foreign investment in ag will dry up until Labor come back.
I think the interesting lesson here is that Fonterra has been slow off the mark. Blind Freddie could have seen the growth in Milk Powder demand, but the Kiwis have saddled themselves up with a cumbersome marketing body that is slow to respond. It does not have any competition because government legislation has encouraged the Fonterra monopoly. NZ will do ok out of the China boom for milk powder but they will eventually fail to compete with more nimble players from overseas.
Angus is in the wrong party. Ideological legislation has destroyed competition in NZ and although dairy farmers are ok today, they will rue the day with incompetent co-op decisions down the track. In Australia we will benefit from nurturing good competition in our grain market, and in our dairy we will see it was a good decision to allow Saputo to buy WCB. I think Mr Taylor has had some experience in NZ that has corrupted his education and many in the business world are shaking their heads listening to his erroneous beliefs that ADM and their 4 billion $ is not good for growers or the nation.