An offer by American food giant Archer Daniels Midland for GrainCorp has divided the Coalition.November 19, 2013 4:22am
The union leader representing workers at foreign takeover target GrainCorp has given his backing to the sale, saying if Treasurer Joe Hockey is rolled on the buyout it would create ‘‘massive’’ sovereign risk for Australia.
Australian Workers Union boss Paul Howes said he was concerned about reports that Prime Minister Tony Abbott did not support the bid for GrainCorp, which Mr Hockey will rule on by December 17.
The offer from American food giant Archer Daniels Midland has created deep divisions in the Coalition, with the Nationals and some rural Liberals strongly opposed to the sale.
Coalition figures say Mr Abbott is inclined to say no to the purchase of Australia’s largest agribusiness, or make conditions so onerous as to make it unviable, The West Australian reported on Friday.
But Mr Howes said without foreign investment, Australia’s agribusiness would ‘‘never become the food bowl for Asia that we talk about’’.
‘‘What concerns me is that if the National party wins in this fight against Joe Hockey over ADM and GrainCorp, is that there will be a massive sovereign risk for our nation in terms of our agribusiness sector,’’ he said.
But Western Australian Liberal senator Dean Smith, like others in the nation’s biggest wheat-growing state, is backing the ADM bid.
‘‘This deal .
Australia was a big exporting country and needed the ‘‘absolute best infrastructure’’ and best global connectivity.
‘‘We need competition — this is the absolute imperative that underscores everything.’’
Senator Smith said debate about foreign investment should not be used as a Trojan horse by those seeking to reverse the benefits of deregulating the wheat export market.
He rejected claims by opponents of the sale that GrainCorp operated a grains handling and export monopoly on the east coast.
One person is dead after a collision between a car and a truck on the Murray Valley Highway and Waaia Bearii Rd. Traffic is being diverted around the scene.
The first preliminary final on Saturday saw the Tungamah seniors start their campaign against Waaia at the Rennie Recreation Reserve.
The Aboriginal and wider community is mourning the death of revered Bangerang Aboriginal elder, Uncle John ‘‘Sandy’’ Atkinson.
CLAIRE Murphy came home the other day.
BE LIKE Barry — the video by Campaspe Shire to educate children about recycling — was launched at St Mary’s Primary School on Monday.
WYUNA’s Memorial Hall was filled with over 80 people for the recent launch of the Wyuna History Group’s third book by Wyuna History Group researcher Noel Thompson – Wyuna Honour Roll 1914-1918.
Avenel win over Nagambie to take top spot
Berrigan Shire councillor Daryll Morris says he has been sickened by some of the vitriol and personal attacks to surface since the council’s proposal to redevelop Finley’s Memorial Hall and School of Arts site was revealed in October last year.
WINE is meant to be enjoyed with good food and good friends.
The preparations for the 10th Cobram Swap Meet have been given a boost with a brand new line marker. The Rotary Club of Cobram, which organise the swap meet, applied for a volunteer grant from the Federal Government, from which it received $4600.
Deni’s Debutante Ball gurus Vicki Ackers and Deb O’Connor love working with youth.
Tuesday, August 16
The News magazines are online - read high quality magazines in your time. Check in regularly for the latest editions.
Riverine Herald's well regarded locally produced magazines. They're now online, so you can read them whenever and wherever you like.
Search for published and unpublished photos from McPherson Media Group newspapers and magazines. All our photos are available to purchase.
Place an advertisement in any one of McPherson Media Group's local newspapers.