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.
After months of speculation, Yarrawonga’s Alan Williams has been endorsed as the Labor candidate for Murray contesting the July 2 Federal Election.
Three Yarrawonga footballers have excelled at interleague level, representing the Ovens and Murray against Hampden in Warrnambool on Saturday.
The Aboriginal and wider community is mourning the death of revered Bangerang Aboriginal elder, Uncle John ‘‘Sandy’’ Atkinson.
Fletcher and Beau Harris might have only taken up go kart racing two years ago but they’re already showing the potential for future success.
CONSTRUCTION of Rochester’s gym is well into the swing of things, with concrete walls erected early last week.
Kyabram Football Club will host a family day next weekend.
Where there’s a Will, there’s a way
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.
RENEWAL works have resumed on the Coliban Main Channel this month.
For most 10-year-olds, mischievous isn’t a word often found in their vocabulary, let alone having the ability to spell it correctly. But for Cobram Anglican Grammar Year 5 student Cadence Pang, it’s all in a day’s work.
Plans for the release of a carp herpes virus has captured the attention of international press.
Farmers from northern Victoria will join a protest rally over milk prices in Melbourne tomorrow, Wednesday.
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.