Media Release

KAP Federal Leader and Member for Kennedy Bob Katter asked the Prime
Minister in the Federal Parliament to explain how he will protect Australian farmers from a foreign owned monopoly if the sale of Graincorp to Archer Daniels Midland (ADM) goes ahead.

In his question Mr Katter pointed to the experience of the dairy industry which after deregulation cut prices to farmers to 19c, but increased the prices by 41c to consumers.

“Would the Prime Minister not agree that Graincorp’s sale creates a corporate monopoly in which grain farmers like dairymen would be skinned alive to enable a foreign company to grab an extra $1b a year?” Mr Katter asked.

Mr Katter has appealed to the Parliament of Australia to learn from history and past experiences of deregulation and foreign ownership.

“ADM’s only priority here is to maximise its profits and there is only one way to do that - cut the price paid to the grain farmer.

“If the grain growers have any doubts that their fate will be different let them have a conversation with the dairy industry, let them have a conversation with the sugar producers, let them have a conversation with any of the other agriculturalists that have been in industries that are now beholden to foreign monopolist power.

Earlier in the week Mr Katter announced he would co-sponsor legislation into the Australian Parliament, to stop the sale of Australia’s largest listed agri-business GrainCorp to foreign owners.

“If the sale of GrainCorp goes ahead the majority of Australia’s wheat export ports, infrastructure and the handling supply chain will be in foreign hands,” Mr Katter said.

The Foreign Acquisitions and Takeovers Amendment Bill 2013 directs the Treasurer to make an order prohibiting a controlling share of GrainCorp being sold to foreign persons.

“We’ve sold off Cubby Station, Australia’s largest land holding and water licence to foreigners and we’ve sold off the Ord irrigation land in WA’s north which was subsidised by almost $600m of taxpayer money.

“This just reiterates to Australians that the ALP-LNP ‘corporations’ running this country are intent on selling out the Australian people,” Mr Katter said.