Media Release

KAP Federal Leader and Member for Kennedy Bob Katter has praised Australians for their tenacious fight against the sell-out of our largest agri-business Graincorp and welcomed Treasurer Joe Hockey’s announcement that the proposed sale to Archer Daniels Midland will not be approved.

“For all Australians who have been fighting continuously and aggressively fighting against the sell-out of our country; this is a marvellous win.

“We are extremely pleased that Mr Hockey has rejected ADM’s takeover bid.

“This is a small step in the right direction; we shouldn’t be selling the goose that lays the golden eggs.

“If the sale went ahead the majority of Australia’s wheat export ports, infrastructure and handling supply chain would have been in foreign hands.
“This is a tremendous victory indeed,” said Mr Katter.

Last week, Mr Katter gave notice that he would co-sponsor legislation into the Australian Parliament, to halt the sale of Australia’s largest agri-business GrainCorp to foreign owners.

“We must emphasise that whilst there has been a pullback, the Federal Government since elected has processed 131 foreign investment applications and to date, this is the only application they have prohibited.

“So there continues to be a mass selloff of Australia to foreigners, which damages every aspect of our lives.

“Whilst the GrainCorp decision is a win for the Australian people, farmers and the industry, the Federal Government yesterday announced tax incentives for States to sell vital infrastructure and assets.

“It’s absolutely ludicrous to offer money to ‘sell off and sell out our country’.

“Despite this, we praise the Treasurer’s decision to reject GrainCorp’s takeover bid so that our Australian grain industry and farmers are not beholden to a foreign monopolist power,” said Mr Katter. 

Last week during Question Time in Parliament, Mr Katter asked the Prime Minister to explain how Australian farmers would be protected from a foreign owned monopoly, if the sale of GrainCorp was approved.