130-year-old Brownes Dairy sold to Chinese firm.

One of Western Australia’s most recognised household dairy names — the 130-year-old Brownes Dairy — has been sold to a Chinese firm. Brownes chief executive Tony Girgis announced today the private equity group Archer Capital had sold the company to Shanghai Ground Food Tech, who they described as “experienced dairy operators who understand the industry”….

Foreigners in charge of Australia’s dairy destiny: Murray Goulburn sale

THE Australian dairy industry is no longer in charge of its own destiny. ANALYSIS: And the days of the large dairy co-operative are over. If Canada’s Saputo, with an annual turnover of $US8.4 billion last year, is successful in buying Murray Goulburn it would control up to three billion litres of milk in the Australian…

Murray Goulburn sold to Canadian – owned Saputo for $1.3 billion

CANADIAN family dairy company Saputo Inc has won the battle for Victorian-based dairy co-operative Murray Goulburn. Murray Goulburn has announced it has entered into a binding agreement to sell to Saputo Dairy Australia Pty Ltd, the Australian arm of the Canadian dairy giant, for $1.3 billion. The deal is subject to approval from the Foreign…

Government assures China over Adani mega- mine approvals

China has officially been informed the controversial Adani coal mine in Central Queensland has received all government approvals, Federal Attorney-General George Brandis has told Senate Estimates. Senate crossbenchers have questioned officials from the Department of Foreign Affairs and Trade (DFAT) in Senate Estimates. The questions were sparked by a Freedom of Information request to DFAT…

Chinese developers buy one-third of Australia’s sites in 2016

Chinese developers bought almost 40 per cent of the total $5 billion spent on Australia’s residential development sites in 2016, with a clear trend towards buying up land in far-flung Sydney and Melbourne suburbs, new research shows. Knight Frank’s report, The Rise of Chinese Developers in Australia, found Chinese developers bought $2.4 billion of residential development sites in…

Up to 84pc of tomatoes left in field due to supermarket demands

Tomato waste at rotten levels as up to 84 pc of crops left in field due to supermarket demands Supermarket demands for unblemished fruit has led to a high level of waste in the tomato industry, researchers say. A study from the University of the Sunshine Coast has found 70–84 per cent of undamaged, edible…

Australia’s largest domestic abattoir to close

Churchill company director Barry Moule said the facility was the largest domestic abattoir in Australia but it had been hit hard by cattle shortages and high prices. Workers became worried when the owners let it be known they were looking for a buyer, possibly Chinese, to acquire the troubled abattoir and upgrade it from Australia’s…

China now owns 10 times the amount of Australian farm land it did last year

The amount of Australian farm land owned by Chinese interests has surged tenfold in the past year, climbing above 14 million hectares or 2.5 per cent of all agricultural land. The findings from the Australian Tax Office’s Agricultural Land Register, released this week, show the UK and China are the largest owners of foreign-held land in Australia, owning…

Extended drought: QLD Farmers on verge of shooting cattle

QUEENSLAND graziers could be forced to shoot their cattle as parts of the state are savaged by soaring temperatures on top of an extended drought. AgForce cattle president Bim Struss said if the rain didn’t come soon, some graziers would be faced with no option but to shoot their cattle as the feed ran out…

Chinese buy 51pc in Bindaree Beef, Australia’s fourth largest beef processor

Expansion plans are on the horizon again for Bindaree Beef after Hong Kong’s wealthy Hui family this week bought a 51 per cent stake in the northern NSW group in partnership with Beijing-based equity fund, Archstone Investment. The McDonald family’s Bindaree Beef Group (BBG) is Australia’s fourth largest beef processor, which owns the Inverell abattoir…