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Greens to move GrainCorp motion



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13 November 2013

Greens to move GrainCorp motion

The Australian Greens will today move a motion in the Senate, calling for the Treasurer to reject the takeover bid of GrainCorp by Archer Daniels Midland.

“There are deep-seated reservations amongst growers about the threat posed by the sale of GrainCorp," Senator Rachel Siewert, Australian Greens agriculture spokesperson said today.

“The Senate Inquiry into this issue has heard a range of concerns from growers about the proposed takeover, including the potential for ADM to use its market power to benefit its shareholders to the detriment of Australian farmers.

“We will today ask the Senate to recognise that Archer Daniels Midland’s proposed acquisition of GrainCorp will reduce competition in the wheat exporting market and hurt Australian growers. We will also ask the Senate to call on the Treasurer to reject the takeover bid.

“Various MPs have spoken out against this takeover, and today’s motion gives them the opportunity to reiterate their position on the floor of the Senate," Senator Siewert concluded.

Motions will be heard in the Senate after 3.30pm today.

Senator Siewert: To move— That the Senate— (a) notes that Archer Daniels Midland’s proposed acquisition of GrainCorp will reduce competition in the wheat exporting market and hurt Australian growers; and (b) calls on the Treasurer (Mr Hockey) to reject the takeover bid of GrainCorp by Archer Daniels Midland.