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.
A fire truck has lost two of its back wheels on the Goulburn Valley Highway
The Ovens & Murray qualifying final between Yarrawonga and Lavington on Saturday left spectators talking more about the standard of umpiring than the two competing teams.
Greater Shepparton City Council was successful in securing the National Cutting Horse Association Victorian Futurity Cutting Horse Championships for 2014 and 2015, with this year’s event scheduled from September 10-14 at Tatura Park.
Police Association slams secret roster trial.
District hotels and businesses may change rosters with penalty rates for casual employees on Sundays set to be cut.
Students visit local businesses for reading lessons
Bottle thrown at Jason Cole in bitter aftermath to Seymour-Benalla game on Saturday.
A truck driver is lucky to be alive after crashing into a Jerilderie home yesterday morning.
Chef and co-owner of Heathcote’s Willow Room Brent Loam is thrilled with the listing in the 2015 Age Good Food Guide
Cobram kids learn about health with hospital as state-wide obesity campaign is launched.
TRUCKtalk magazine all the rage with local truck drivers.
A few anxious customers were outside the closed gates of the failed Bee-Jay Machinery business on Goulburn Valley Hwy in Shepparton on Tuesday morning, wondering what would become of deposits they had paid for tractors and other machinery.
An unknown sum of money was stolen from Benalla Golf Club this morning after thieves broke into its gaming room.
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