❓ A WA parliamentary question regarding AgraCorp's trading practices in the canola market and its impact on growers. The Minister acknowledges the issue and outlines the Grain Pool's responsibilities and potential solutions.
AnsweredQoN 799Legislative Council
QuestionView source ↗
(1) AgraCorp Pty Ltd is the trading arm of the Grain Pool of Western Australia. Is the minister aware that AgraCorp, in its efforts to protect the canola pool system, has ceased trading in the cash market, which is currently costing the grower approximately $20 per tonne? (2) Is the minister aware that the grower uses the ability to sell a percentage of his forecasted crop as a form of insurance, in some ways similar to the multi-peril crop insurance that the Western Australian Farmers Federation has been recommending? (3) Is there some way that the minister could put pressure on AgraCorp to once again become involved in the cash market for canola? (4) Is the minister able to consider if not a formal approach, an informal approach? Hon KIM CHANCE
AnswerView source ↗
I thank the member for some notice of the question. (1) Since 19 October 2001, AgraCorp has suspended and re-entered trading on a number of occasions. The member’s question gives the impression that it has suspended it altogether. It suspended trading on 19 October and re-entered trading on 7 November; it suspended on 12 November and re-entered on 14 November; and it suspended on 19 November and re-entered on 27 November. I am aware that a group of growers believes that the periodic absence of AgraCorp in the cash market for canola is costing growers $20 a tonne. AgraCorp is a wholly owned subsidiary of the Grain Pool of Western Australia. The provisions of the Grain Marketing Act impose an obligation on the Grain Pool to ensure that the actions of its cash trading arm do not adversely affect its pooling operations. To achieve this the Grain Pool board sets limits on the quantity of each of the prescribed grains, including canola, which can be traded for cash in any one year by AgraCorp. The lack of a significant domestic market in Western Australia limits the liquidity of the cash market in this State. (2) I have initiated the setting up of a task force chaired by former Under Treasurer Ross Bowe to investigate the feasibility of setting up a multi-peril crop insurance scheme for Western Australia. Multi-peril crop insurance is designed to deal more with devastating losses in crop yields than with price fluctuations. It is important to note that growers have the ability at any time to lock in canola futures prices on the Winnipeg market and, through currency futures, effectively fix a price at the farm gate. (3) The Grain Pool of Western Australia is an independent statutory marketing authority with seven grower-elected members on its 10-member board. I have the ability under the Grain Marketing Act to instruct the board in exceptional circumstances, but I believe that this is an operational matter for growers to work through with the Grain Pool. (4) I am comfortable that there are sufficient accountability provisions in the Grain Marketing Act for growers and their organisations to raise such matters directly with the Grain Pool and also through the grower directors who sit on the board.
(2) Is the minister aware that the grower uses the ability to sell a percentage of his forecasted crop as a form of insurance, in some ways similar to the multi-peril crop insurance that the Western Australian Farmers Federation has been recommending? (3) Is there some way that the minister could put pressure on AgraCorp to once again become involved in the cash market for canola? (4) Is the minister able to consider if not a formal approach, an informal approach? Hon KIM CHANCE replied: I thank the member for some notice of the question. (1) Since 19 October 2001, AgraCorp has suspended and re-entered trading on a number of occasions. The member’s question gives the impression that it has suspended it altogether. It suspended trading on 19 October and re-entered trading on 7 November; it suspended on 12 November and re-entered on 14 November; and it suspended on 19 November and re-entered on 27 November. I am aware that a group of growers believes that the periodic absence of AgraCorp in the cash market for canola is costing growers $20 a tonne. AgraCorp is a wholly owned subsidiary of the Grain Pool of Western Australia. The provisions of the Grain Marketing Act impose an obligation on the Grain Pool to ensure that the actions of its cash trading arm do not adversely affect its pooling operations. To achieve this the Grain Pool board sets limits on the quantity of each of the prescribed grains, including canola, which can be traded for cash in any one year by AgraCorp. The lack of a significant domestic market in Western Australia limits the liquidity of the cash market in this State. (2) I have initiated the setting up of a task force chaired by former Under Treasurer Ross Bowe to investigate the feasibility of setting up a multi-peril crop insurance scheme for Western Australia. Multi-peril crop insurance is designed to deal more with devastating losses in crop yields than with price fluctuations. It is important to note that growers have the ability at any time to lock in canola futures prices on the Winnipeg market and, through currency futures, effectively fix a price at the farm gate. (3) The Grain Pool of Western Australia is an independent statutory marketing authority with seven grower-elected members on its 10-member board. I have the ability under the Grain Marketing Act to instruct the board in exceptional circumstances, but I believe that this is an operational matter for growers to work through with the Grain Pool. (4) I am comfortable that there are sufficient accountability provisions in the Grain Marketing Act for growers and their organisations to raise such matters directly with the Grain Pool and also through the grower directors who sit on the board.
(3) Is there some way that the minister could put pressure on AgraCorp to once again become involved in the cash market for canola? (4) Is the minister able to consider if not a formal approach, an informal approach? Hon KIM CHANCE replied: I thank the member for some notice of the question. (1) Since 19 October 2001, AgraCorp has suspended and re-entered trading on a number of occasions. The member’s question gives the impression that it has suspended it altogether. It suspended trading on 19 October and re-entered trading on 7 November; it suspended on 12 November and re-entered on 14 November; and it suspended on 19 November and re-entered on 27 November. I am aware that a group of growers believes that the periodic absence of AgraCorp in the cash market for canola is costing growers $20 a tonne. AgraCorp is a wholly owned subsidiary of the Grain Pool of Western Australia. The provisions of the Grain Marketing Act impose an obligation on the Grain Pool to ensure that the actions of its cash trading arm do not adversely affect its pooling operations. To achieve this the Grain Pool board sets limits on the quantity of each of the prescribed grains, including canola, which can be traded for cash in any one year by AgraCorp. The lack of a significant domestic market in Western Australia limits the liquidity of the cash market in this State. (2) I have initiated the setting up of a task force chaired by former Under Treasurer Ross Bowe to investigate the feasibility of setting up a multi-peril crop insurance scheme for Western Australia. Multi-peril crop insurance is designed to deal more with devastating losses in crop yields than with price fluctuations. It is important to note that growers have the ability at any time to lock in canola futures prices on the Winnipeg market and, through currency futures, effectively fix a price at the farm gate. (3) The Grain Pool of Western Australia is an independent statutory marketing authority with seven grower-elected members on its 10-member board. I have the ability under the Grain Marketing Act to instruct the board in exceptional circumstances, but I believe that this is an operational matter for growers to work through with the Grain Pool. (4) I am comfortable that there are sufficient accountability provisions in the Grain Marketing Act for growers and their organisations to raise such matters directly with the Grain Pool and also through the grower directors who sit on the board.
(4) Is the minister able to consider if not a formal approach, an informal approach? Hon KIM CHANCE replied: I thank the member for some notice of the question. (1) Since 19 October 2001, AgraCorp has suspended and re-entered trading on a number of occasions. The member’s question gives the impression that it has suspended it altogether. It suspended trading on 19 October and re-entered trading on 7 November; it suspended on 12 November and re-entered on 14 November; and it suspended on 19 November and re-entered on 27 November. I am aware that a group of growers believes that the periodic absence of AgraCorp in the cash market for canola is costing growers $20 a tonne. AgraCorp is a wholly owned subsidiary of the Grain Pool of Western Australia. The provisions of the Grain Marketing Act impose an obligation on the Grain Pool to ensure that the actions of its cash trading arm do not adversely affect its pooling operations. To achieve this the Grain Pool board sets limits on the quantity of each of the prescribed grains, including canola, which can be traded for cash in any one year by AgraCorp. The lack of a significant domestic market in Western Australia limits the liquidity of the cash market in this State. (2) I have initiated the setting up of a task force chaired by former Under Treasurer Ross Bowe to investigate the feasibility of setting up a multi-peril crop insurance scheme for Western Australia. Multi-peril crop insurance is designed to deal more with devastating losses in crop yields than with price fluctuations. It is important to note that growers have the ability at any time to lock in canola futures prices on the Winnipeg market and, through currency futures, effectively fix a price at the farm gate. (3) The Grain Pool of Western Australia is an independent statutory marketing authority with seven grower-elected members on its 10-member board. I have the ability under the Grain Marketing Act to instruct the board in exceptional circumstances, but I believe that this is an operational matter for growers to work through with the Grain Pool. (4) I am comfortable that there are sufficient accountability provisions in the Grain Marketing Act for growers and their organisations to raise such matters directly with the Grain Pool and also through the grower directors who sit on the board.
Hon KIM CHANCE replied: I thank the member for some notice of the question. (1) Since 19 October 2001, AgraCorp has suspended and re-entered trading on a number of occasions. The member’s question gives the impression that it has suspended it altogether. It suspended trading on 19 October and re-entered trading on 7 November; it suspended on 12 November and re-entered on 14 November; and it suspended on 19 November and re-entered on 27 November. I am aware that a group of growers believes that the periodic absence of AgraCorp in the cash market for canola is costing growers $20 a tonne. AgraCorp is a wholly owned subsidiary of the Grain Pool of Western Australia. The provisions of the Grain Marketing Act impose an obligation on the Grain Pool to ensure that the actions of its cash trading arm do not adversely affect its pooling operations. To achieve this the Grain Pool board sets limits on the quantity of each of the prescribed grains, including canola, which can be traded for cash in any one year by AgraCorp. The lack of a significant domestic market in Western Australia limits the liquidity of the cash market in this State. (2) I have initiated the setting up of a task force chaired by former Under Treasurer Ross Bowe to investigate the feasibility of setting up a multi-peril crop insurance scheme for Western Australia. Multi-peril crop insurance is designed to deal more with devastating losses in crop yields than with price fluctuations. It is important to note that growers have the ability at any time to lock in canola futures prices on the Winnipeg market and, through currency futures, effectively fix a price at the farm gate. (3) The Grain Pool of Western Australia is an independent statutory marketing authority with seven grower-elected members on its 10-member board. I have the ability under the Grain Marketing Act to instruct the board in exceptional circumstances, but I believe that this is an operational matter for growers to work through with the Grain Pool. (4) I am comfortable that there are sufficient accountability provisions in the Grain Marketing Act for growers and their organisations to raise such matters directly with the Grain Pool and also through the grower directors who sit on the board.
I thank the member for some notice of the question. (1) Since 19 October 2001, AgraCorp has suspended and re-entered trading on a number of occasions. The member’s question gives the impression that it has suspended it altogether. It suspended trading on 19 October and re-entered trading on 7 November; it suspended on 12 November and re-entered on 14 November; and it suspended on 19 November and re-entered on 27 November. I am aware that a group of growers believes that the periodic absence of AgraCorp in the cash market for canola is costing growers $20 a tonne. AgraCorp is a wholly owned subsidiary of the Grain Pool of Western Australia. The provisions of the Grain Marketing Act impose an obligation on the Grain Pool to ensure that the actions of its cash trading arm do not adversely affect its pooling operations. To achieve this the Grain Pool board sets limits on the quantity of each of the prescribed grains, including canola, which can be traded for cash in any one year by AgraCorp. The lack of a significant domestic market in Western Australia limits the liquidity of the cash market in this State. (2) I have initiated the setting up of a task force chaired by former Under Treasurer Ross Bowe to investigate the feasibility of setting up a multi-peril crop insurance scheme for Western Australia. Multi-peril crop insurance is designed to deal more with devastating losses in crop yields than with price fluctuations. It is important to note that growers have the ability at any time to lock in canola futures prices on the Winnipeg market and, through currency futures, effectively fix a price at the farm gate. (3) The Grain Pool of Western Australia is an independent statutory marketing authority with seven grower-elected members on its 10-member board. I have the ability under the Grain Marketing Act to instruct the board in exceptional circumstances, but I believe that this is an operational matter for growers to work through with the Grain Pool. (4) I am comfortable that there are sufficient accountability provisions in the Grain Marketing Act for growers and their organisations to raise such matters directly with the Grain Pool and also through the grower directors who sit on the board.
(1) Since 19 October 2001, AgraCorp has suspended and re-entered trading on a number of occasions. The member’s question gives the impression that it has suspended it altogether. It suspended trading on 19 October and re-entered trading on 7 November; it suspended on 12 November and re-entered on 14 November; and it suspended on 19 November and re-entered on 27 November. I am aware that a group of growers believes that the periodic absence of AgraCorp in the cash market for canola is costing growers $20 a tonne. AgraCorp is a wholly owned subsidiary of the Grain Pool of Western Australia. The provisions of the Grain Marketing Act impose an obligation on the Grain Pool to ensure that the actions of its cash trading arm do not adversely affect its pooling operations. To achieve this the Grain Pool board sets limits on the quantity of each of the prescribed grains, including canola, which can be traded for cash in any one year by AgraCorp. The lack of a significant domestic market in Western Australia limits the liquidity of the cash market in this State. (2) I have initiated the setting up of a task force chaired by former Under Treasurer Ross Bowe to investigate the feasibility of setting up a multi-peril crop insurance scheme for Western Australia. Multi-peril crop insurance is designed to deal more with devastating losses in crop yields than with price fluctuations. It is important to note that growers have the ability at any time to lock in canola futures prices on the Winnipeg market and, through currency futures, effectively fix a price at the farm gate. (3) The Grain Pool of Western Australia is an independent statutory marketing authority with seven grower-elected members on its 10-member board. I have the ability under the Grain Marketing Act to instruct the board in exceptional circumstances, but I believe that this is an operational matter for growers to work through with the Grain Pool. (4) I am comfortable that there are sufficient accountability provisions in the Grain Marketing Act for growers and their organisations to raise such matters directly with the Grain Pool and also through the grower directors who sit on the board.
(2) I have initiated the setting up of a task force chaired by former Under Treasurer Ross Bowe to investigate the feasibility of setting up a multi-peril crop insurance scheme for Western Australia. Multi-peril crop insurance is designed to deal more with devastating losses in crop yields than with price fluctuations. It is important to note that growers have the ability at any time to lock in canola futures prices on the Winnipeg market and, through currency futures, effectively fix a price at the farm gate. (3) The Grain Pool of Western Australia is an independent statutory marketing authority with seven grower-elected members on its 10-member board. I have the ability under the Grain Marketing Act to instruct the board in exceptional circumstances, but I believe that this is an operational matter for growers to work through with the Grain Pool. (4) I am comfortable that there are sufficient accountability provisions in the Grain Marketing Act for growers and their organisations to raise such matters directly with the Grain Pool and also through the grower directors who sit on the board.
(3) The Grain Pool of Western Australia is an independent statutory marketing authority with seven grower-elected members on its 10-member board. I have the ability under the Grain Marketing Act to instruct the board in exceptional circumstances, but I believe that this is an operational matter for growers to work through with the Grain Pool. (4) I am comfortable that there are sufficient accountability provisions in the Grain Marketing Act for growers and their organisations to raise such matters directly with the Grain Pool and also through the grower directors who sit on the board.
(4) I am comfortable that there are sufficient accountability provisions in the Grain Marketing Act for growers and their organisations to raise such matters directly with the Grain Pool and also through the grower directors who sit on the board.
(2) Is the minister aware that the grower uses the ability to sell a percentage of his forecasted crop as a form of insurance, in some ways similar to the multi-peril crop insurance that the Western Australian Farmers Federation has been recommending? (3) Is there some way that the minister could put pressure on AgraCorp to once again become involved in the cash market for canola? (4) Is the minister able to consider if not a formal approach, an informal approach? Hon KIM CHANCE replied: I thank the member for some notice of the question. (1) Since 19 October 2001, AgraCorp has suspended and re-entered trading on a number of occasions. The member’s question gives the impression that it has suspended it altogether. It suspended trading on 19 October and re-entered trading on 7 November; it suspended on 12 November and re-entered on 14 November; and it suspended on 19 November and re-entered on 27 November. I am aware that a group of growers believes that the periodic absence of AgraCorp in the cash market for canola is costing growers $20 a tonne. AgraCorp is a wholly owned subsidiary of the Grain Pool of Western Australia. The provisions of the Grain Marketing Act impose an obligation on the Grain Pool to ensure that the actions of its cash trading arm do not adversely affect its pooling operations. To achieve this the Grain Pool board sets limits on the quantity of each of the prescribed grains, including canola, which can be traded for cash in any one year by AgraCorp. The lack of a significant domestic market in Western Australia limits the liquidity of the cash market in this State. (2) I have initiated the setting up of a task force chaired by former Under Treasurer Ross Bowe to investigate the feasibility of setting up a multi-peril crop insurance scheme for Western Australia. Multi-peril crop insurance is designed to deal more with devastating losses in crop yields than with price fluctuations. It is important to note that growers have the ability at any time to lock in canola futures prices on the Winnipeg market and, through currency futures, effectively fix a price at the farm gate. (3) The Grain Pool of Western Australia is an independent statutory marketing authority with seven grower-elected members on its 10-member board. I have the ability under the Grain Marketing Act to instruct the board in exceptional circumstances, but I believe that this is an operational matter for growers to work through with the Grain Pool. (4) I am comfortable that there are sufficient accountability provisions in the Grain Marketing Act for growers and their organisations to raise such matters directly with the Grain Pool and also through the grower directors who sit on the board.
(3) Is there some way that the minister could put pressure on AgraCorp to once again become involved in the cash market for canola? (4) Is the minister able to consider if not a formal approach, an informal approach? Hon KIM CHANCE replied: I thank the member for some notice of the question. (1) Since 19 October 2001, AgraCorp has suspended and re-entered trading on a number of occasions. The member’s question gives the impression that it has suspended it altogether. It suspended trading on 19 October and re-entered trading on 7 November; it suspended on 12 November and re-entered on 14 November; and it suspended on 19 November and re-entered on 27 November. I am aware that a group of growers believes that the periodic absence of AgraCorp in the cash market for canola is costing growers $20 a tonne. AgraCorp is a wholly owned subsidiary of the Grain Pool of Western Australia. The provisions of the Grain Marketing Act impose an obligation on the Grain Pool to ensure that the actions of its cash trading arm do not adversely affect its pooling operations. To achieve this the Grain Pool board sets limits on the quantity of each of the prescribed grains, including canola, which can be traded for cash in any one year by AgraCorp. The lack of a significant domestic market in Western Australia limits the liquidity of the cash market in this State. (2) I have initiated the setting up of a task force chaired by former Under Treasurer Ross Bowe to investigate the feasibility of setting up a multi-peril crop insurance scheme for Western Australia. Multi-peril crop insurance is designed to deal more with devastating losses in crop yields than with price fluctuations. It is important to note that growers have the ability at any time to lock in canola futures prices on the Winnipeg market and, through currency futures, effectively fix a price at the farm gate. (3) The Grain Pool of Western Australia is an independent statutory marketing authority with seven grower-elected members on its 10-member board. I have the ability under the Grain Marketing Act to instruct the board in exceptional circumstances, but I believe that this is an operational matter for growers to work through with the Grain Pool. (4) I am comfortable that there are sufficient accountability provisions in the Grain Marketing Act for growers and their organisations to raise such matters directly with the Grain Pool and also through the grower directors who sit on the board.
(4) Is the minister able to consider if not a formal approach, an informal approach? Hon KIM CHANCE replied: I thank the member for some notice of the question. (1) Since 19 October 2001, AgraCorp has suspended and re-entered trading on a number of occasions. The member’s question gives the impression that it has suspended it altogether. It suspended trading on 19 October and re-entered trading on 7 November; it suspended on 12 November and re-entered on 14 November; and it suspended on 19 November and re-entered on 27 November. I am aware that a group of growers believes that the periodic absence of AgraCorp in the cash market for canola is costing growers $20 a tonne. AgraCorp is a wholly owned subsidiary of the Grain Pool of Western Australia. The provisions of the Grain Marketing Act impose an obligation on the Grain Pool to ensure that the actions of its cash trading arm do not adversely affect its pooling operations. To achieve this the Grain Pool board sets limits on the quantity of each of the prescribed grains, including canola, which can be traded for cash in any one year by AgraCorp. The lack of a significant domestic market in Western Australia limits the liquidity of the cash market in this State. (2) I have initiated the setting up of a task force chaired by former Under Treasurer Ross Bowe to investigate the feasibility of setting up a multi-peril crop insurance scheme for Western Australia. Multi-peril crop insurance is designed to deal more with devastating losses in crop yields than with price fluctuations. It is important to note that growers have the ability at any time to lock in canola futures prices on the Winnipeg market and, through currency futures, effectively fix a price at the farm gate. (3) The Grain Pool of Western Australia is an independent statutory marketing authority with seven grower-elected members on its 10-member board. I have the ability under the Grain Marketing Act to instruct the board in exceptional circumstances, but I believe that this is an operational matter for growers to work through with the Grain Pool. (4) I am comfortable that there are sufficient accountability provisions in the Grain Marketing Act for growers and their organisations to raise such matters directly with the Grain Pool and also through the grower directors who sit on the board.
Hon KIM CHANCE replied: I thank the member for some notice of the question. (1) Since 19 October 2001, AgraCorp has suspended and re-entered trading on a number of occasions. The member’s question gives the impression that it has suspended it altogether. It suspended trading on 19 October and re-entered trading on 7 November; it suspended on 12 November and re-entered on 14 November; and it suspended on 19 November and re-entered on 27 November. I am aware that a group of growers believes that the periodic absence of AgraCorp in the cash market for canola is costing growers $20 a tonne. AgraCorp is a wholly owned subsidiary of the Grain Pool of Western Australia. The provisions of the Grain Marketing Act impose an obligation on the Grain Pool to ensure that the actions of its cash trading arm do not adversely affect its pooling operations. To achieve this the Grain Pool board sets limits on the quantity of each of the prescribed grains, including canola, which can be traded for cash in any one year by AgraCorp. The lack of a significant domestic market in Western Australia limits the liquidity of the cash market in this State. (2) I have initiated the setting up of a task force chaired by former Under Treasurer Ross Bowe to investigate the feasibility of setting up a multi-peril crop insurance scheme for Western Australia. Multi-peril crop insurance is designed to deal more with devastating losses in crop yields than with price fluctuations. It is important to note that growers have the ability at any time to lock in canola futures prices on the Winnipeg market and, through currency futures, effectively fix a price at the farm gate. (3) The Grain Pool of Western Australia is an independent statutory marketing authority with seven grower-elected members on its 10-member board. I have the ability under the Grain Marketing Act to instruct the board in exceptional circumstances, but I believe that this is an operational matter for growers to work through with the Grain Pool. (4) I am comfortable that there are sufficient accountability provisions in the Grain Marketing Act for growers and their organisations to raise such matters directly with the Grain Pool and also through the grower directors who sit on the board.
I thank the member for some notice of the question. (1) Since 19 October 2001, AgraCorp has suspended and re-entered trading on a number of occasions. The member’s question gives the impression that it has suspended it altogether. It suspended trading on 19 October and re-entered trading on 7 November; it suspended on 12 November and re-entered on 14 November; and it suspended on 19 November and re-entered on 27 November. I am aware that a group of growers believes that the periodic absence of AgraCorp in the cash market for canola is costing growers $20 a tonne. AgraCorp is a wholly owned subsidiary of the Grain Pool of Western Australia. The provisions of the Grain Marketing Act impose an obligation on the Grain Pool to ensure that the actions of its cash trading arm do not adversely affect its pooling operations. To achieve this the Grain Pool board sets limits on the quantity of each of the prescribed grains, including canola, which can be traded for cash in any one year by AgraCorp. The lack of a significant domestic market in Western Australia limits the liquidity of the cash market in this State. (2) I have initiated the setting up of a task force chaired by former Under Treasurer Ross Bowe to investigate the feasibility of setting up a multi-peril crop insurance scheme for Western Australia. Multi-peril crop insurance is designed to deal more with devastating losses in crop yields than with price fluctuations. It is important to note that growers have the ability at any time to lock in canola futures prices on the Winnipeg market and, through currency futures, effectively fix a price at the farm gate. (3) The Grain Pool of Western Australia is an independent statutory marketing authority with seven grower-elected members on its 10-member board. I have the ability under the Grain Marketing Act to instruct the board in exceptional circumstances, but I believe that this is an operational matter for growers to work through with the Grain Pool. (4) I am comfortable that there are sufficient accountability provisions in the Grain Marketing Act for growers and their organisations to raise such matters directly with the Grain Pool and also through the grower directors who sit on the board.
(1) Since 19 October 2001, AgraCorp has suspended and re-entered trading on a number of occasions. The member’s question gives the impression that it has suspended it altogether. It suspended trading on 19 October and re-entered trading on 7 November; it suspended on 12 November and re-entered on 14 November; and it suspended on 19 November and re-entered on 27 November. I am aware that a group of growers believes that the periodic absence of AgraCorp in the cash market for canola is costing growers $20 a tonne. AgraCorp is a wholly owned subsidiary of the Grain Pool of Western Australia. The provisions of the Grain Marketing Act impose an obligation on the Grain Pool to ensure that the actions of its cash trading arm do not adversely affect its pooling operations. To achieve this the Grain Pool board sets limits on the quantity of each of the prescribed grains, including canola, which can be traded for cash in any one year by AgraCorp. The lack of a significant domestic market in Western Australia limits the liquidity of the cash market in this State. (2) I have initiated the setting up of a task force chaired by former Under Treasurer Ross Bowe to investigate the feasibility of setting up a multi-peril crop insurance scheme for Western Australia. Multi-peril crop insurance is designed to deal more with devastating losses in crop yields than with price fluctuations. It is important to note that growers have the ability at any time to lock in canola futures prices on the Winnipeg market and, through currency futures, effectively fix a price at the farm gate. (3) The Grain Pool of Western Australia is an independent statutory marketing authority with seven grower-elected members on its 10-member board. I have the ability under the Grain Marketing Act to instruct the board in exceptional circumstances, but I believe that this is an operational matter for growers to work through with the Grain Pool. (4) I am comfortable that there are sufficient accountability provisions in the Grain Marketing Act for growers and their organisations to raise such matters directly with the Grain Pool and also through the grower directors who sit on the board.
(2) I have initiated the setting up of a task force chaired by former Under Treasurer Ross Bowe to investigate the feasibility of setting up a multi-peril crop insurance scheme for Western Australia. Multi-peril crop insurance is designed to deal more with devastating losses in crop yields than with price fluctuations. It is important to note that growers have the ability at any time to lock in canola futures prices on the Winnipeg market and, through currency futures, effectively fix a price at the farm gate. (3) The Grain Pool of Western Australia is an independent statutory marketing authority with seven grower-elected members on its 10-member board. I have the ability under the Grain Marketing Act to instruct the board in exceptional circumstances, but I believe that this is an operational matter for growers to work through with the Grain Pool. (4) I am comfortable that there are sufficient accountability provisions in the Grain Marketing Act for growers and their organisations to raise such matters directly with the Grain Pool and also through the grower directors who sit on the board.
(3) The Grain Pool of Western Australia is an independent statutory marketing authority with seven grower-elected members on its 10-member board. I have the ability under the Grain Marketing Act to instruct the board in exceptional circumstances, but I believe that this is an operational matter for growers to work through with the Grain Pool. (4) I am comfortable that there are sufficient accountability provisions in the Grain Marketing Act for growers and their organisations to raise such matters directly with the Grain Pool and also through the grower directors who sit on the board.
(4) I am comfortable that there are sufficient accountability provisions in the Grain Marketing Act for growers and their organisations to raise such matters directly with the Grain Pool and also through the grower directors who sit on the board.
Explore WA Government Data
Search the full archive in the free dashboard, or query programmatically via API.
Explore more
Government Gazette
Appointments, regulatory notices, planning changes.
Hansard
Debates, questions, speeches and sentiment.
Tabled Papers
Reports and documents tabled in Parliament.
Committees
Committee profiles and recent reports.
Regulations
Subsidiary legislation with filters and summaries.
Bills
Proposed laws and parliamentary progress.
Acts
Current WA legislation and summaries.
Explanatory Memoranda
Bills with EMs (text/PDF) available.
Members
MP profiles, party breakdown and rankings.
Pollie Rankings
Data-driven rankings across 19 categories.
Amendment Chains
Track how schemes and regulations evolve over time.