Federal Member for Parkes, Mark Coulton has spoken in parliament about the decision by the Australian Competition and Consumer Commission’s (ACCC) to not oppose the takeover of Australian Consolidated Food Holdings Pty Ltd.
Mr Coulton said that he believed comments made by the ACCC chairman Rod Sims indicated that the ACCC only had a limited understanding of the beef industry and the impact this takeover would have.
“Farmers and stock buyers in my electorate are very concerned that this acquisition will dramatically reduce the competition in the markets in western New South Wales and western Queensland,” said Mr Coulton.
“One buyer in western New South Wales said that this decision would be like allowing Coles or Woolworths to purchase Aldi.”
“Today I express my disappointment at the ACCC’s decision not to oppose the mergers of JBS Swift and the Primo meat company.”
“Competition in the sector is essential to delivering fair prices to farmers in western New South Wales.”
“Many farmers made submissions to the ACCC raising their concerns about this acquisition. They are understandably disappointed with this decision by the ACCC.”
Mr Coulton said that the acquisition was currently under consideration by the Foreign Investment Review Board.