Author Topic: Elders goes whining to the government about Indonesian suspension  (Read 1429 times)

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Elders goes whining to the government about Indonesian suspension
« Reply #1 on: December 29, 2011, 06:21:01 PM »
Agribusiness Elders says it's talking with the Department of Agriculture about how to recoup losses it believes it suffered during the suspension of live cattle exports to Indonesia.

The company claims claim the Federal Government's decision to suspend trade because of animal cruelty at abattoirs in Indonesia cost it more than $7 million in lost business.

The company's annual report refers to a direct loss of $2 million in the livestock division.

But Tony Dage, group general manager of trading with Elders, says there was a wider impact on the business.

"No, we were very clear in what we took to the ASX (Australian Stock Exchange) on July 6th.

"We said there was an economic impact to Elders that ranged between $3.5 and $7.5 million and we believe the impact is at the top of that range.

"Today we are talking to government and others about how we resolve that."

The Indonesia trade is worth $120 million to Elders, and since the lifting of the trade ban in July, it has been supplying cattle to 11 accredited abattoirs.

Elders has sent 55,000 cattle and says it will continue to export cattle to Indonesia throughout the wet season.

The CEO of the country’s largest beef producer also will not rule out seeking compensation if the opportunity presents itself.

David Farley, from the Australian Agricultural Company, says there are many law firms investigating where restitution can be made.

“We need someone to show us the pathways to it, how solid can they present a case and what is the time frame for it," he said.

“The reality is the governments are here to govern. Sometimes they get it right and sometimes they get it wrong.

“We’re here to operate within it and more importantly we’re here to make a future.”