THE Victorian Farmers Federation has likened selling off Australia’s largest agribusiness GrainCorp to a US buyer to putting Telstra’s entire infrastructure under foreign control.
Federation grains group president Brett Hosking said the Federal Government would never allow Telstra’s communications infrastructure to be sold to a foreign company.
“Yet they’re willing to consider selling off Australia’s largest agribusiness to a US global food giant Archer Daniels Midland,” he said.
“It would give ADM the majority of Australia’s east coast grain export handling infrastructure – that’s just not on.”
Mr Hosking has joined NSW and Queensland grain growers in Canberra and presented a case opposing the ADM takeover of GrainCorp to federal Treasurer Joe Hockey’s advisers, Agriculture Minister Barnaby Joyce and Senator Fiona Nash.
He said farmers were heartened to see that Mr Hockey had signed an interim order under the Foreign Acquisitions and Takeovers Act, delaying the decision on the ADM takeover until December 17.
Mr Hosking said the federation was pleased the National Party opposed the ADM takeover.
Federal Agriculture Minister Barnaby Joyce has urged Mr Hockey to oppose the takeover.
He said the takeover would be against the national interest.