Meat CEO’s beef with Hastie comments

Original article by Glenda Korporaal
The Australian – Page: 19 : 14-Aug-19

Australian Meat Industry Council CEO Patrick Hutchinson has attacked Liberal MP Andrew Hastie over his recent comments regarding China. With Australian meat exports to China tipped to exceed $2 billion in 2019, Hutchinson says Hastie’s comments, which saw him compare the rise of China to that of Nazi Germany in the 1930s, were "inflammatory and ill-considered". Hutchinson says the comments do not reflect rural and regional Australia, which would suffer if the remarks led to a further downturn in the relationship between China and Australia. Hutchinson notes the meat processing sector represents over 50,000 full-time equivalent jobs, on top of the farmers who produce beef cattle.

CORPORATES
AUSTRALIAN MEAT INDUSTRY COUNCIL, LIBERAL PARTY OF AUSTRALIA

Blueberry oversupply alarms farmers

Original article by Tim Boyd
The Australian Financial Review – Page: 8 : 14-Jan-19

Cheaper blueberries were one of the factors behind the Costa Group unveiling a profit downgrade on 10 January, an announcement that saw its shares fall by 39 per cent in a single day’s trade. Blueberry farmers say that cheap prices are the result of oversupply. Brackenridge Berries owner and manager Jenny Kompara-Tosio says prices have fallen to around $2 a punnet, a level at which it is difficult to make any money. Fellow blueberry farmer Otto Saeck says it has been a tough year for growers.

CORPORATES
COSTA GROUP HOLDINGS LIMITED – ASX CGC, BRACKENRIDGE BERRIES

Cheesemaker shelling out for more peanuts

Original article by Sue Neales
The Australian – Page: 6 : 12-Mar-18

Demand for peanuts in Australia is growing by eight per cent per annum, but production of peanuts is "stagnant" at 20,000 tonnes a year. Grower Ben Poggioli notes that many growers are getting older and leaving the industry, and that prices have not changed much in the last 10 years. Bega Cheese, which acquired the recipe and manufacturing rights in Australia to the former Kraft peanut butter from Mondelez in 2017, is hoping to revitalise peanut growing in Australia, partly through a commitment to use only Australian-grown peanuts in its Bega peanut butter.

CORPORATES
BEGA CHEESE LIMITED – ASX BGA, MONDELEZ AUSTRALIA (FOODS) LIMITED, PEANUT COMPANY OF AUSTRALIA LIMITED

Record prices for Australian cattle unsustainable: Merricks

Original article by Jonathan Shapiro
The Australian Financial Review – Page: 11 & 27 : 26-Jul-16

The Eastern Young Cattle Indicator has risen to $A6.61 a kilogram. Adrian Redlich, the chief investment officer at Melbourne-based commodities hedge fund Merricks Capital, says the Australian beef price index is now at the highest level since it was set up in 1996. He advises farmers to forward sell, as prices are unlikely to stay at current levels for long.

CORPORATES
MERRICKS CAPITAL PTY LTD, AUSTRALIAN AGRICULTURAL COMPANY LIMITED – ASX AAC

Farmers applaud subsidy cut but say it’s just a start

Original article by Joanna Mather
The Australian Financial Review – Page: 6 : 22-Dec-15

New South Wales wheat, barley and canola farmer John Booker has welcomed the World Trade Organization’s decision to abolish agricultural export subsidies. He does not expect to benefit immediately from the decision, but he is optimistic about the long-term gains. Tony Mahar of the National Farmers Federation argues that the domestic support subsidies that some countries provide to farmers must also be scrapped.

CORPORATES
WORLD TRADE ORGANIZATION, NATIONAL FARMERS’ FEDERATION LIMITED, CATTLE COUNCIL OF AUSTRALIA, AUSTRALIAN DAIRY INDUSTRY COUNCIL

Wheat production tipped to defy El Nino

Original article by Jared Lynch
The Australian Financial Review – Page: 9 : 9-Sep-15

The Australian Bureau of Agricultural & Resource Economics & Science expects the nation’s 2015-16 wheat crop to be about 25 million tonnes. It had previously forecast that wheat production would be 23.6 million tonnes. Paul Deane of the ANZ Bank says the wheat crop is likely to be within the range of 24 million to 25 million tonnes, but stresses that the exact figure will depend on good rainfall in September 2015.

CORPORATES
AUSTRALIAN BUREAU OF AGRICULTURAL AND RESOURCE ECONOMICS AND SCIENCES, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, AUSTRALIA. DEPT OF AGRICULTURE, AUSTRALIA. BUREAU OF METEOROLOGY, GRAINCORP LIMITED – ASX GNC

Treasury’s wine-tax rort guide

Original article by Simon Evans
The Australian Financial Review – Page: 1 : 21-Aug-15

A rebate system introduced in 2004 to help small winegrowers in regional areas is being rorted by some unscrupulous operators, according to Assistant Treasurer Josh Frydenberg. The number of entities claiming wine equalisation tax (WET) credits in 2013-14 was 1967, about 100 more than in 2006-07. The Treasury estimates abuse of the so-called WET rebates is set to cost taxpayers $A350 million by 2016. Frydenberg has released a discussion paper and set up a panel of industry experts as he moves to reform the system.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN TAXATION OFFICE, DE BORTOLI WINES PTY LTD, THE YALUMBA WINE COMPANY, FRASER GALLOP ESTATE, WINEMAKERS’ FEDERATION OF AUSTRALIA INCORPORATED

Young Australians expect ‘high dollars’

Original article by Julie-anne Sprague
The Australian Financial Review – Page: 4 : 19-Aug-15

Bannister Downs Dairy MD Sue Daubney believes young Australians have unrealistic expectations about work and salaries. She told a Committee for the Economic Development of Australia luncheon in Perth on 18 August 2015 that the company had to use foreign labour because young Australians did not want to work in agriculture. In her view, Australia’s workforce culture is problematic.

CORPORATES
COMMITTEE FOR ECONOMIC DEVELOPMENT OF AUSTRALIA, BANNISTER DOWNS DAIRY COMPANY

Costa hopeful IPO will be a success

Original article by Jared Lynch
The Australian Financial Review – Page: 17 : 8-Jul-15

Costa Group Holdings has commenced an international investor roadshow ahead of its Australian IPO, which is expected to be worth around $A1bn. Chairman Frank Costa says the fruit and vegetable group is performing well, and he hopes investors will assess the IPO on its own merits rather than being influenced by factors such as the impact of the debt crisis in Greece on global financial markets.

CORPORATES
COSTA GROUP HOLDINGS LIMITED – ASX CGC, MURRAY GOULBURN CO-OPERATIVE COMPANY LIMITED, MG UNIT TRUST – ASX MGC, PAINE AND PARTNERS LLC, UBS HOLDINGS PTY LTD, GOLDMAN SACHS AND PARTNERS AUSTRALIA PTY LTD

El Nino effect on minerals ‘minimal’

Original article by Stephen Cauchi
The Australian Financial Review – Page: 29 : 18-Jun-15

An analysis of 13 previous El Nino events by Citigroup has concluded that the weather phenomenon that is expected in 2015 is unlikely to have much effect on the price of mineral commodities. However, the firm notes that El Nino could impact on agricultural commodities, and it concludes that wheat is the soft commodity that is most likely to be affected in Australia.

CORPORATES
CITIGROUP PTY LTD. AUSTRALIAN BUREAU OF AGRICULTURAL AND RESOURCE ECONOMICS AND SCIENCES