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The Chinese-led consortium that wants to buy the giant S.Kidman & Co property business is expected to pull its $370 million bid and resubmit it after the election.


The revised bid is likely to include the sweetener of an increased proportion of Australian ownership. The consortium includes the listed Australian Rural Capital ARC, which is in a trading halt pending the announcement, and Chinese group Dakang, which is owned by Pengxin and Shangahai CRED.

Australian Rural Capital ARC came out of trading halt and is flat at 50c - had punched as high as 85c before the knockback


Commitment to transaction

ARC and Dakang Australia remain committed to continuing to working together and with the Kidman board to develop a new bid structure which will be capable of acceptance by the Kidman board, the Kidman shareholders and approval by the Treasurer. (whomever she may be)

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Just a rejoinder to all those naÃÆâ€â„¢ÃƒÆ’ƒâ€Â ÃƒÆ’¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒ¢Ã¢â‚¬Å¾Ã‚¢ÃƒÆ’ƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚¯ve souls out there who think that the trend for Chinese companies to buy up Australian agricultural assets is no different to such actions by other foreigners ...


This quote is from an article from the Dim Sums blog about moves by COFCO, a Chinese SOE that is administered directly by China's Cabinet (State Council), into Eastern Europe:


The company's communist party secretary told journalists that COFCO plans to further expand and improve its global layout to implement the country's national grain import and export strategy with the greatest possible efficiency as part of China's "national team."


In a Chinese State Owned Enterprise the most powerful position is usually that of the Communist Party Secretary. The Party cell effectively operates as the Human Resources Department, deciding who gets what job and for how long. As the Dim Sum article clearly lays out if not for subsidies and favoured treatment by the Chinese government COFCO would be a train wreck but as things stand COFCO is not only moving to control agricultural trade with China but it is looking to have a say more generally.


COFCO is not interested in (short term) profits, rather it is a vehicle being used for market share and control imo.






Here is an example of such wide-eyed credulity:


Global Foundation secretary-general Steve Howard told the forum that some positive Cofco business announcements affecting Australia were likely in the near future.


ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“For those who have wanted for a long time to see manufacturing and food processing reinvigorated in this country, I think Cofco can be a part of that leadership of seeing Australia as a valuer adder, as well as a source of raw materials,ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢ÃƒÆ’Æâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢ he said.


Yeah righto, when the Commies refer to their "National Team" they really mean they want to reinvigorate Australia's manufacturing and processing sectors.


(you might want to google: Global Food: "ChinaÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s Cofco says Australia crucial for growth" for the article from the Oz.)




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  • 9 months later...

nothing listed, but for how long?

Australia's only major native crop, the macadamia nut, has hit the big time as rocketing demand from China, Japan and Korea fuels industry expansion, investor excitement and soaring grower profits.


With a bumper harvest now ÃÆâ€â„¢ÃƒÆ’ƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚­delivering a record 54,000 tonnes of macadamia nuts in the key growing region from Ballina in northern NSW to Bundaberg in Queensland, the once-boutique industry has swelled from producing less than $100 million of nuts in 2012 to $280m this year.


Macadamia prices of up to $5.50 per kilo of raw nuts ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¡ÃƒÆ’‚¬Ãƒâہ¡ÃƒÆ’‚ double the prices paid to farmers three years ago ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¡ÃƒÆ’‚¬Ãƒâہ¡ÃƒÆ’‚ are seeing new investors, including Chinese players, snap up established orchards for as much as $70,000 a hectare.


Many of the original Byron Bay hobby farmers with just a few hectares of rolling macadamia hill ÃÆâ€â„¢ÃƒÆ’ƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚­orchards, which once characterised the fledgling industry, have sold up as a new breed of nut growers and foreign companies buy up plantations and focus on bottom-line profits and improved yields.

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they do indeed; for BUG lots of red ink

The performance of the Macadamia segment was influenced by:

a) A late crop in Hawaii by some 8 weeks meant lower early processing and sales deferred to a later period.

b) A decision to make nut in shell (NIS) sales in the previous financial year at the expense of later kernel sales in this financial year to accommodate bank debt repayment resulted in lowers sales this year.


However, the very high price of Australian NIS could barely be recovered at the retail customer and profits were badly squeezed. The late crop in Hawaii had a much larger impact on half year profitability.

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Here is some info and comment about the agricultural angle in China's grand "one belt one road" reordering of the world order. Note that Australia is on the outside looking in at this proposed universe. But FWIW I don't see China getting even close to meeting the stated aims of this push, though they may have other unstated goals that they are actually shooting for.




This whole push reminds me a bit of when in the fifties Mao's regime was attempting to set up a third world grouping, separate to the USSR and US blocks. I think from memory they were referred to as the Independents but Mao actually saw it as the vehicle for global domination. For various reasons it never got very far, one reason was that Mao could not hide his superiority complex (at one conference attended by many African leaders Mao tried to make his point that the Americans were ignorant by noting that the yanks viewed the Chinese as no better than the Africans). I think that eventually the Non-alingned Movement was established but without the involvement of China.

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"The lengthy essay lays out China's motivation, principles and actions for solving world hunger, fostering a new era of rising agricultural trade and investment.." etc etc


those lofty ideals seem to be at odds with the current prevailing view (Western triumphalism?) as in Amartya Sen's theory: ''No famine has ever taken place in the history of the world in a functioning democracy,'' he wrote in '' Democracy as Freedom'' (1999). Maybe the Chinese push is just a drive for exports (and a conduit for food imports)

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  • 6 months later...

Just for some perspective .... to those that argue that Australia can be the food bowl to the teeming masses in China and India. According to this work we have less than 2% of the world's farmland.




click on the link to the interactive map for more detail.


I've seen it claimed elsewhere that even if we do everything pitch perfect then at best we can feed about 60m people, and I'm not sure for how long as most of our farmland has a relative dusting of topsoil (parts of the Darling Downs for instance is running out of topsoil fairly quickly).

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