Andrew Broad joins GrainCorp sale fight

MEMBER for Mallee Andrew Broad has joined the fight against the sale of GrainCorp to US corporation Archer Daniels Midland. 

Mr Broad has urged Federal Treasurer Joe Hockey to reject the proposed takeover.

Mr Hockey is due to make a decision on the proposed takeover by December 17.

“I’m trying to reflect the views that are being expressed to me by people in my electorate and those views are mixed,” he said.

“There is a level of people who are not happy with the sale.

“There are others who are concerned that the deal isn’t a good deal and that ADM aren’t being forthcoming about their intentions.”

Mr Broad said he did not believe the sale was in the country’s national interest.

“We want to ensure that whoever runs GrainCorp is responsive to the needs of growers and their needs are to shift product from the paddock to the ports and the marketplace,” he said.

“I’m just not convinced, especially given GrainCorp would only be four per cent of ADM’s business.”

Mr Broad said growers could be disadvantaged when decisions were made too far away from home.

“For example, when I was Victorian Farmers Federation president, the Heinz factory was shut based on a decision made in a boardroom in Illinois,” he said. 

“There was nothing we could do about it.

“Once decisions become too far away from us, we become disempowered and that’s my concern.

“We do live in a globalised environment and I’m not against foreign investment, but this is more about foreign buying and there is a difference.”

Mr Broad said other party members had different views on the sale.

“I think it pays to ask those who have expertise. Members of parliament who have grain growers in their electorate should be given greater consultation,” he said.

“The treasurer is being wise and he is listening to people, which is what he should be doing.

“It is appropriate for him to stay in that position until he has considered all opinions.”

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