AWB loses 67-year monopoly in wheat exports
Australian grain companies will now have the chance to export wheat under a new Australian government plan as Australian Wheat Board’s 67-year-old monopoly will soon come to an end.
Agriculture Minister, Peter McGauran, now has the power and will handle applications
for the next six months while discussions for the future of a single desk take
place.
for the next six months while discussions for the future of a single desk take
place.
This plan may enable companies led by Cargill, GrainCorp and Glencore
International to gain access to Australia’s AUD$3.3 billion (US$2.6 billion)
wheat export market. AWB’s monopoly accounted for approximately 14% of
world-wide wheat trading in 2005.
International to gain access to Australia’s AUD$3.3 billion (US$2.6 billion)
wheat export market. AWB’s monopoly accounted for approximately 14% of
world-wide wheat trading in 2005.
“Putting it into the hands of the minister is going to give the industry
choice and the ability for other players to participate,” said the president of
Australian Grain Exporters Association, Robert Green.
choice and the ability for other players to participate,” said the president of
Australian Grain Exporters Association, Robert Green.
However, ABW says that a lack of clarity in the Federal Governments changes
to the wheat export system could compromise the national pool.
to the wheat export system could compromise the national pool.
Related links:
- Australian Wheat
Board (AWB) - Australian Grain Exporters Association
- Cargill
- GrainCorp
- Glencore
International
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