The Australian Agriculture Minister, Peter McGauran, and the Australian Treasurer, Peter Costello, have both made recent statements in the Australian media suggesting that the Australian Wheat Board (AWB) monopoly is in jeopardy.

Currently, AWB can veto applications by other companies for bulk overseas wheat sales. However, the company is facing a public inquiry headed by former judge Terrence Cole into alleged kickbacks of US$221.7m paid to Saddam Hussein’s regime.

AWB’s control of wheat export has been a major sticking point in trade negotiations with the US, who view Australia’s restrictive sales process as a market distortion.

The controversy surrounding the Cole Inquiry has raised questions about AWB’s considerable export powers. “You’re not going to have exactly the same situation that existed before the Cole Inquiry commenced to what will exist after it,” McGauran said. 

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.