Grain Trade Australia (GTA), custodians of the new Australian Grain Industry Code of Conduct will oversee its release and evaluate its performance yearly.

The code, which is voluntary, focuses on the transactions and processes of buying and selling grain.

It applies to all commodities and all forms of packaging.

To date, eight grains industry organisations had signed the code.

GTA chairman, Tom Keene, said the code was designed to improve the transparency and clarity of transactions regarding the buying and selling of grain and to enhance the behaviour of industry participants.

“The code aims to encourage best practice along the supply chain when it comes to transactions that relate to the buying and selling of grain," Mr Keene said.

“The code will also serve to improve stakeholder and customer confidence in the Australian grain industry, a key challenge for the industry following changes to wheat marketing arrangements."

Mr Keene added that GTA is well placed to be the custodians of the code.

“GTA as the organisation responsible for providing the commercial rules and standards used across the entire Australian grain industry has a very important role when it comes to supporting and reviewing the progress of the code,” Mr Keene said.

Australian grain industry stakeholders will receive a copy of the code in the latest edition of GRDC’s Ground Cover publication.

It can also be downloaded from the GTA website by clicking on www.graintrade.org.au.