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Futuris challenges monopoly on wheat exports
24 Oct 2003
Futuris Corporation has applied to the Wheat Export Authority to export a bulk order of 400,000 tonnes of high-grade wheat to an unnamed overseas customer. Futuris's managing director Les Wozniczka said this highlights how subsidiary Elders can work within established structures to secure volume for Australian farmers which would otherwise have been sourced outside this country.
The application to the WEA by Futuris is a shot fired at AWB Ltd's monopoly on wheat exports and follows AWB's failed attempt to take over Futuris.
Mr Wozniczka said farmers want choice and it's healthy to have different organisations which are willing to use different strategies. But Futuris's attempt to win approval to become a bulk exporter faces an uphill battle. While the WEA receives and considers applications, AWB has the power of veto over all applications for bulk exports of wheat. Since 1999, it's believed only one application has been successful.
The Advertiser, 24/10/03, page 31.
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