May 22, 2007

Australian government extends wheat market plan until July 2008
 

The Australian government will extend existing export wheat marketing arrangements, which include a veto power held by the agriculture minister, up to Jul 1, 2008, a spokesman for the governing Liberal-National Coalition said Tuesday.

These arrangements will be for the upcoming 2007 crop, the spokesman told reporters after a meeting of Coalition legislators on condition of anonymity.

The industry has until Mar 1, 2008, to establish a new entity to export market wheat, but if this deadline is breached, the government reserves a right to impose alternative arrangements, he said.

Legislation will be introduced to extend the ministerial veto until Jul 1, 2008, he said.