| ||USDA actions unjustified|| ||
AWB (USA) Limited has received notification from the United States Department of Agriculture (USDA) that it has been suspended from participating in USDA credit export programs for sales of American commodities.
AWB Managing Director Andrew Lindberg said this suspension does not affect AWB’s Australian wheat export marketing activities, currency or commodity hedging programs in the US.
“This action is confined solely to the AWB (USA) operations of exporting US commodities and will have no material financial impact on AWB,” said Mr Lindberg.
“However the actions by the USDA are unjustified and AWB (USA) will be vigorously defending its position.
“AWB (USA) has 30 days to make a submission to the USDA and we look forward to defending our position,” said Mr Lindberg.
AWB (USA) is currently not using the USDA credit export programs.
AWB (USA) Limited, incorporated in the United States, is a wholly owned subsidiary of AWB Limited.
“This suspension follows calls from the US Wheat Associates to bar AWB (USA) from further access to US government credit programs,” said Mr Lindberg.
"It is time for the heavily subsidised US wheat interests to cease their unwarranted attack on Australian wheat farmers and Australia’s international trade interests.
"They need to be reminded that the report of the Independent Inquiry Committee into the United Nations Oil for Food Program did not find that AWB was knowingly involved in any scheme or arrangement to channel funds to the former Iraqi regime,” said Mr Lindberg.
Issued by: Peter McBride on 03 9209 2174 or 0417 662 451