AWB loses 67-year monopoly in wheat exports

Agriculture Minister, Peter McGauran, now has the power and will handle applications
for the next six months while discussions for the future of a single desk take
place.

 

This plan may enable companies led by Cargill, GrainCorp and Glencore
International to gain access to Australia’s AUD$3.3 billion (US$2.6 billion)
wheat export market. AWB’s monopoly accounted for approximately 14% of
world-wide wheat trading in 2005.

 

“Putting it into the hands of the minister is going to give the industry
choice and the ability for other players to participate,” said the president of
Australian Grain Exporters Association, Robert Green.

 

However, ABW says that a lack of clarity in the Federal Governments changes
to the wheat export system could compromise the national pool.