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Senate endorses Australian Wheat Board restructure



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PIENet - DPIE98/31T - 9 July 1998 Page 1 of 1

Media Release Judith Troeth DPIE 98/31T

Parliamentary Secretary to the Minister for Primary Industries an d Energy

9 July 1998

SENATE ENDORSES AUSTRALIAN WHEAT BOARD RESTRUCTURE

The Wheat Marketing Legislation Amendment Bill 1998 was passed by the Senate today.

Parliamentary Secretary to the Minister for Primary Industries and Energy, Senator Judith Troeth, said the Bill is the final package of legislation for the re-structure of the Australian Wheat Board (AWB).

"The legislation means the Australian Wheat Board (AWB) will become a grower owned and controlled company instead of a statutory authority," she said.

"The commercialisation of the AWB will enable it to operate more successively in an open world market," Senator Troeth said.

"The AWB is one of the world's largest export companies and will market approximately 15 per cent of the world's wheat trade.

"Provisions of the Bill will allow for the conversion of the Wheat Industry Fund to shares and thereby providing the capital base of the new company structure

"The Bill also provides for managing the continuation of the wheat export monopoly and other transitional matters to finalise the new arrangements.

"The passage of this Bill supports the Coalition Government's long standing, strong commitment for arrangements which would provide a secure single desk and grower control and is the result of intense on going consultation with the grains industry for more than two years.

"The Government and industry groups have worked together on this issue in the best interests of the Australian wheat industry," Senator Troeth said.

Further inquiries:

Senator Troeth's office Alex Staples (02) 6277 3002 or 0417 449 921

Last updated 10 July 1998.

http://www.dpie.gov.au/dpie/pr/media_releases/troeth/98_31t.html 18/08/1998