AUSTRALIA: Losses at the New South Wales Grain Board makes future uncertain
The future of the New South Wales Grains Board is uncertain following an estimation of losses totalling A$70m. The board will be investigated by the Parliamentary Public Accounts Committee this month and the government is expected to reveal soon the outcome of negotiations with bankers on the company that will bail it out. The board had exclusive marketing rights for the state's canola, sorghum and barley crops, and several companies have filed tenders offering the take over the board's assets.
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