Agribusiness buzz in brief

Agribusiness buzz in brief


Farm Online News
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A quick look at some of the players and topics making news in agribusiness

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Country of origin crunch time

From July 1 new Australian government country of origin labelling requirements will apply for most foods intended for retail sale.

Food products will have to be labelled according to the requirements of the Country of Origin Food Labelling Information Standard 2016, which means businesses need to adopt new labels which identify their level of Australian produced ingredients.

Companies are being urged to check whether their products rate as “priority” or “non-priority” foods under the new standard and confirm if more information is needed from suppliers to work out the percentage of Australian ingredients.

Companies must also ensure they can confirm their claims about products being grown, produced, made or packed in Australia or overseas?

Inghams seeks new boss

After four years at the helm of poultry meat and feed processing business Ingham’s, chief executive officer, Mick McMahon, will step down in August.

He will continue working with the company until December to assist with its leadership transition as an executive search is finalised to install his replacement.

Quinton Hildebrand.

Quinton Hildebrand.

Ingham’s chief commercial officer, Quinton Hildebrand, who is among those likely to be considered for the role, takes over as acting CEO after the company’s full-year results are released in August.

Other internal and international candidates will be considered for the job.

Mr Hilderbrand was CEO of Mackay Sugar before joining Inghams in 2015.

Inghams Group chairman, Peter Bush thanked Mr McMahon for his “years of meaningful leadership and service to Ingham’s”, in particular taking the company through private ownership to a successful stock market listing and its strategy to become more efficient and competitive.

“His remarkable results speak for themselves,” he said.

Country student helpers

The Country Education Foundation is urging rural businesses and individuals to make use of the end of financial year to donate to its not-for-profit work assisting regional students pursuing higher education, training and career goals.

The CEF has more than 40 local education foundation committees raising funds in NSW, Queensland, Northern Territory and South Australia.

The CEF has more than 40 local education foundation committees raising funds in NSW, Queensland, Northern Territory and South Australia.

Since 1993 it has given more than 4000 grants to help apprentices buy tool kits, to fund text books and computers for university students, assist remote student travel costs to capital cities, and more.

It also runs mentor programs and produces a university survival guide for bush students.

Donations exceeding $2 are tax deductible.

“By donating to CEF you assist amazing rural and regional students reach their full potential,” said chief executive officer, Wendy Cohen.

Ridley’s prawn agenda

Stockfeed business, Ridley Corporation, is exploring options to accelerate the feed company’s Novacq prawn feed business.

In trials at Yamba in NSW and in Thailand, Novacq, developed with CSIRO, has significantly contributed to improved survival rates, prawn growth and conversion weights.

Ridley is planning to scale up prawn production work in Thailand where it has also committed to start building a blending mill in the new financial year.

Ridley is considering a broad range of options for Novacq, including possible third party investment in the product, and has appointed corporate financial advisory specialist Investec Australia to assist.

Ruralco position confirmed

Ruralco Holdings has officially appointed Timothy Rowe as its new general counsel and company secretary, having had him in an acting capacity in the job since last November.

Mr Rowe, previously the deputy general counsel, joined Ruralco in 2016 with more than 16 years legal experience in business and national law firms.

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