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More companies accredited to export bulk wheat

25/09/2008 4:51:00 PM
Wheat Exports Australia (WEA) today announced that two more bulk wheat exporters have been accredited through the Bulk Wheat Export Accreditation Scheme, bringing the total number of accredited exporters to 15 companies.

Acting chief executive officer, Peter Woods, says the additional exporters accredited by WEA are:

• Riverina (Australia) Pty Ltd

• Pentag Commodities Pty Limited

To become accredited under the scheme, exporters are required to demonstrate they are fit and proper through satisfying the specific eligibility criteria in the Scheme.

WEA has the discretion to make decisions, including applying conditions, based on the applicant’s particular circumstances and their proposed export arrangements.

WEA also has significant monitoring and enforcement responsibilities to protect the interests of growers and the industry.

“Growers and the industry need to be aware that accreditation does not indemnify exporters or provide any guarantees relating to contracts or payments of any kind,” Mr Woods said.

“It is therefore important for growers to exercise prudential judgement in decisions surrounding the sale and marketing of their wheat.”

WEA is continuing to assess other applications.

Further details on the accredited companies and any conditions of accreditation can be viewed on the WEA’s online registry at .

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Comments


Date: Newest first | Oldest first
Mr Woods has certainly covered himself by granting licences then saying grower beware. How can a number of traders mean increased returns to the grower if they are dealing with one market for instance?
Posted by Realist on 26/09/2008 7:10:44 AM
Free market experts like those involved in the current global financial crisis are the driving force behind the deregulation of the export wheat market. Be aware that most have no real assets or capital backing. Ensure you have a confirmed letter of credit from your own financial institution before delivering any grain to this mob.
Posted by bazza on 26/09/2008 11:50:49 AM
Good comments 1 and 2. From 1 to 15 for 20million tons or so of wheat and all will probably be cutting each others throats and competing against each other. Just what the US wanted and now they are having a go at Canada. The questions are going to be: Who will I deal with? How strong are they financially? Are they good and experienced? Have they been risk rated from their applications and if so what are they? eg AAA, AA, A, B+, etc ...because there are no guarantees. WEA make a point "growers to exercise prudential judgement in decisions regarding sale of their wheat". As good as saying don't blame us if something goes wrong, we only approved them, it's up to you to pick who you deal with. Rudd, you lost me a long time ago. Do you really know what you are doing?
Posted by Will on 26/09/2008 9:01:22 PM
Will and bazza, There is a chap im my district who has been growing wheat for over 60 years. He firmly believes that wheat deregulation will assist in bringing on a depression in Australia just as he believes that it did in the thirties. We are on a hiding to nothing - Labor and Liberal alike ought to hang their heads in shame. I am particularly incensed that we as a Nation have been made to look very ordinary in deed.
Posted by Realist on 1/10/2008 6:40:07 PM

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Q: Should farm management deposits be considered as part of an asset test to determine if farmers are eligible for Government-funded drought assistance?

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Total Votes: 603
Poll Date: 21/09/2008

21/11/2008 | AWI's new board can only succeed in old battles by fighting in new ways.
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