Agribusiness

Wellard shares were hammered for a second time in less than a week, with the company warning of yet another potential profit hit before the end of the financial year.

Investors have punished local agribusiness Wellard for announcing another downgrade to its profit outlook, which could be as little as half of its original estimate.

Perth-based Seafarms Group has received firm commitments for a $10 million capital raising to fund ongoing work at its $1.45 billion Sea Dragon prawn aquaculture project in the Northern Territory.

The state’s widespread wet autumn has helped lift rural confidence, with most farmers expecting this year to either be a better year for the agricultural economy or as just as good as last year.

A bale of hay that survived the recent fires near Myalup, north of Bunbury, has proved a valuable catalyst to efforts to restore the communities affected by the disaster.

A crowdfunded Australian bid for the S Kidman and Co cattle stations is gathering pace after securing a new business partner.

One of the state’s largest egg producers has been found to have misled the public that its eggs were free range.

The state’s high labour costs and lack of available farmworkers will make it difficult to compete globally in agribusiness, potato grower Tony Galati told today’s Business News Success & Leadership breakfast.

The federal government has deferred introduction of the so-called backpacker tax in a bid to rid the issue as an election irritant in rural and regional seats.

Live export markets are likely to remain under pressure, but agribusiness Elders still expects its annual financial results to improve.

A growing uptake of technology for farming practices is likely among the state’s agribusinesses in coming months, according to the latest Commonwealth Bank Agri Insights survey.

Medical cannabis hopeful MGC Pharmaceuticals has upped its capital raising to $5 million after its initial $3.5 million raising closed oversubscribed.

The federal government has moved to end 'gaming' of wine industry assistance with cuts to rebates and tightening of eligibility for the Wine Equalisation Tax (WET) rebate.

The Chinese-led consortium seeking to acquire the Kidman cattle empire will try again after Treasurer Scott Morrison blocked its first attempt.

The Federal Court has ordered the former managing director of a Western Australian-controlled egg producer to pay a $120,000 penalty for attempting to induce a cartel arrangement between competing producers.

Bannister Downs Dairy has appointed Perkins Builders as head contractor for its $20 million-plus creamery project at Northcliffe, and is planning to commence construction in coming months.

Treasurer Scott Morrison has told the Chinese company wanting to buy Australia's largest private landholder that its planned purchase is contrary to the national interest.

Agriculture Minister Dean Nalder has made his first major move since being given the role, announcing the deregulation of the state’s potato industry and a handsome $14 million compensation package for growers.

Analysis by Deloitte suggests grain growers in the CBH Group network value add $771 million to the state’s economy, while the grain handler directly contributes a further $348 million.

The board of local seafoods business Mareterram intends to accept a $19.7 million proportional takeover offer from the company’s largest shareholder.

The competition watchdog has announced plans to investigate the cattle and beef industry following concerns that beef processors hold excessive power following industry consolidation around Australia.

Sandalwood producer TFS Corporation has confirmed a $65 million capital raising to buy-out plantations owned by managed investment schemes.

Wesfarmers chief executive Richard Goyder has thrown his support behind the state government’s plan to lease Fremantle Ports, saying the state needs a world-class operator to ensure exports are competitive internationally.

The Kailis family has folded its Kailis Bros seafood business into a larger, newly-capitalised venture called KB Foods that will be 90 per cent owned by Hong Kong-listed conglomerate Legend Holdings. Click through to see the multiple WA businesses owned by members of the Kailis family in WA. 

The chairman of Frankland River Olive Company looks set to wholly acquire and privatise the business, after Paul Letari increased his shareholding to over 90 per cent.

Managing the state’s economic transition was the main focus of today’s cabinet reshuffle, Premier Colin Barnett said, with tourism and agriculture in his sights as key growth industries.

New research by a Perth-based national innovation centre has confirmed significant rainfall and climate changes in the state’s agricultural regions for the past 15 years, and found these conditions will be the new normal.

CBH Group is planning to launch a full review of its cooperative structure after formally rejecting a proposal from Australian Grains Champion to corporatise and list the business on the ASX.

West Leederville-based commercial fishing company Austral Fisheries has become the first seafood business in the world to be certified as carbon neutral.

Grower feedback has led the Australian Grains Champion to remove two clauses from its proposal to corporatise CBH Group, with the consortium continuing to criticize the CBH board’s handling of the matter.

The Australian Grain Champion’s proposal to demutualise CBH will most likely be rejected by the CBH board, but it could be the catalyst for a CBH-led demutualisation.

ANALYSIS: CBH has served WA grain growers for more than 80 years, but debate is raging about whether now is the time to kill the co-op.