News last update:6 Aug 2012

Grains Council of Australia out of money

More than 70 years old organization Grains Council of Australia has run out of money. A last minute race is underway to find alternative funds to keep the organization alive.

The GCA board announced last week that it has unanimously agreed to commence winding up its activities unless a rescue package is delivered by July 1. 

Administrators have not been appointed, despite losses of about $356,000 in the past year and forecasts of a further deficit this year.
In a statement issued by GCA last week while chairman Murray Jones was overseas, it was revealed the winding up process would be carried out over four months.
Jones said it was a "sad day for the industry. "I am sure that you are aware of the difficulties many State and national agricultural representative organizations face due to the ongoing challenges in securing financial sustainability."
GCA has been in poor health for some years, but the Oil for Food scandal with Irak and the implications this had for the retention of the single desk was undoubtedly the straw that broke the camel's back.

Dick Ziggers

Or register to be able to comment.