Vocal opponents of export wheat marketing deregulation suffered a blow yesterday when the NSW Farmers' Association annual conference rejected a call for AWB Ltd to remain grower controlled.
Three members of the association's grains committee – Jock Munro, Mark Hoskinson, and John Ridley – have been campaigning furiously to persuade growers to reject AWB's move to rid itself of A-class (grower) shareholders arrangements at an extraordinary general meeting in August.
But a motion moved by Mike O'Hare, of Ardlethan, to retain grower control of AWB was narrowly defeated.
Mr O'Hare questioned AWB's claim that the dual-class share structure limited AWB's ability to raise capital.
He said AWB, before deregulation when it had sole wheat export rights through the wheat single desk, had experienced no trouble financing its operation.
"Why would it have trouble financing part of it under deregulation?" he asked.
But former AWB board member, John Simpson, said removing A-class shareholders was "absolutely critical" if AWB was to be able to offer aggressive cash prices at the silo.
* Extract from a full report in The Land, July 31 edition.
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