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The shipment was arranged under the umbrella of BP8’s Sales Cooperation Agreement with PT. Kebula Raya Bestari, which will see the latter handle logistics and supply arrangements for the product.

MSC plans to use the product – to be delivered as 60 metric tonnes of Indonesian seaweed biomass – to make carrageenan, an additive used to thicken and stabilise food products.

BP8’s managing director, Matthew Leonard, said achieving the first shipment indicated the partnership with PT. Kebula Raya Bestari was on the right track.

“We are pleased to announce our first shipment under the Sales Cooperation Agreement with Kebula, which demonstrates the practical progress of our strategic partnership,” BP8’s boss explained in a market release today.

“Kebula’s role in managing logistics is enabling BP8 to efficiently connect Indonesian seaweed supply with international customers like MSC.”

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Mr Leonard added: “We look forward to building on this initial transaction as we continue to expand our supply network.”

BP8 rose 25% after the news and is now trading around 0.2cps.

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Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.

RLF’s “crop nutrition” line of products will hit 500 stores with an Elders’ distribution deal under its belt across “245 rural stores.”

RLF sells what it calls its ‘Plant Proton Delivery Technology,’ which is really just another way of saying liquid fertilisers. Don’t let the simple get in the way of a good product name, I suppose. At any rate, this particular expansion continues a good run for RLF AgTech. Year to date, the stock’s up +120%.

“We are incredibly fortunate to have a supply agreement with Elders Australia — a name synonymous with Australian agriculture,” RLF MD Gavin Ball said.

No kidding – Elders, at a market cap of $1.3 billion, is one of the biggest players on the ASX’s Agribusiness index (though is significantly outshone by Incitec Pivot).

“This agreement is an important step forward as RLF strengthens its presence in the domestic market and delivers RLF’s crop nutrition solutions to growers across the country.”

That country-wide focus underpins RLF’s strategic rejuvenation of late to further boost a national rollout. Between the lines, perhaps the company was starting to worry that RLF mightn’t be a very familiar name.

“The company has bolstered its sales and business development team and made significant investment in training programs, technical resources, and in-store merchandising and sales materials to ensure an impactful introduction of its crop nutrition products to growers nationwide,” RLF wrote on Thursday.

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Wherever this sudden crisis of confidence came from, RLF AgTech shareholders were liking the news on Thursday. RLF last traded at 6.5cps.

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Wellard has now officially sold off its last remaining export vessel, the MV Ocean Drover, netting around A$80 million from a Turkish company that will now be taking the Drover into its own shipyards.

But with that, Wellard stated on Tuesday it had now lost its only real remaining money-maker. The only income stream the company now sees is participation in a long-running class action the Australian government has already thrown up roadblocks towards paying out.

For 46 years, Wellard was involved in Australia’s live exports trade, but things soured in the 2010s when the Gillard gov’t banned live cattle exports to Indonesia.

A class action consisting of 215 claimants from across the beef industry was launched in 2014, but last year, Canberra decided it wasn’t going to pay out settlements on the grounds its export ban was illegal.

One company got paid – Brett Cattle – but Wellard, a class member, is still waiting.

It’s been a slow suffocation for the company ever since. This is especially true as anti-export attitudes across Australia have grown in mainstream popularity (to the chagrin, fairly, of just about everyone who lives in the regions broadly).

Consider WA’s ‘Keep the Sheep’ campaign for evidence of a shift in public consensus – or perhaps more importantly, that it wasn’t enough to sway that state’s gov’t.

So with Wellard now a still-unpaid constituent of the Brett class action; that class action being the only way left for the Aussie company to make money, and, a Federal government that doesn’t want to pay any other claimants – it’s perhaps unsurprising Wellard brought up de-listing off the ASX on Tuesday.

“Given the sale of the Drover, which represents Wellard’s sole remaining revenue-generating asset, and the costs of remaining a publicly listed entity, Wellard’s Board will consider the best structure for the business, including the possibility of delisting from the ASX, and continuing as a public unlisted company,” the company wrote.

So it’s interesting, then, that the company’s price jumped at all – nonetheless over 100%, despite relatively thin trades. On December 31, 2015, shares were worth $1.46/sh.

They were worth just over 20c a year later, and since then, have floundered below that level. Until now.

A 100% increase based on just under $1M in Tuesday trades (as at 4.30pm Sydney time) saw the share price return to 15cps, which is great until you consider the company is probably going to de-list.

While the company used the term “possibility of delisting from the ASX,” it’s hard to see where else the company can go from here from a value generation POV.

Then there’s the fact executive chairman John Klepec essentially gave the company a eulogy on Tuesday.

“Subject to shareholder approval the sale of the M/V Ocean Drover will bring to an end Wellard’s 46-year involvement in the global live export industry,” Klepec said.

“I thank our many local and international customers and other stakeholders, particularly current and former staff and service providers, who have been supportive of Wellard’s business throughout its journey.”

Whoever bought shares on Tuesday may want to reconsider.

WLD last traded at 15cps.

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The ultimate price per carcass increased by $57, the company explained, also boosting the return on investment when considering feed costs.

The study looked at single and double doses of Terragen’s probiotic versus liquid MYLO and a control group. Double-dosed cattle came in nearly 9kg heavier than control counterparts; that cohort is from where the +4.6% daily gain metric was plucked.

However, single-dose dry probiotic cows’ feed conversion ratio improved nearly +13% compared to control. Given Terragen’s metric of an average ration cost of $380/tn, that increase allows farmers to save nearly $50/tn (assuming you’re using a National Feedlot Accreditation Scheme grain grid.)

Further, probiotic groups were also reported to outperform control when it came to the marbling of the meat and overall yield percentage.

While this study focused on beef, existing research indicating Terragen’s probiotic can increase daily weight gain in lambs by 24% was pointed to by the company.

The same can also make lactating cows nearly one-fifth heavier than control counterparts, though, that wasn’t covered in Tuesday’s news.

Perhaps unsurprising for the ASX where Agritech companies are far and few between – the news wasn’t enough to put upward pressure on Terragen’s shares, which were flat heading into late morning.

TGH last traded at 4.7cps.

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Through the transaction – which is built around a binding Merger Implementation Deed and Share Sale Agreement – OJC intends to create a food and beverage company of national and global significance, promising revenues beyond $400 million and more than $29M EBITDA in the 2025 financial year.

The pedigree of SPC – which is one of Australia’s biggest producers of packaged fruit, tomato-based products, baked beans, spaghetti and ready-made meals – made it an attractive brand for OJC to acquire, while Nature One Dairy (NOD) has reach both in Australia and Asia for its sale of powdered and formula baby milk products.

SPC executives will play a key part in development of the resulting combined business, with current SPC chairman Hussein Rifai and managing director Robert Iervasi to reprise the same roles in the new entity.

For SPC shareholders, OJC is offering 133 million shares (issued on a post consolidation basis) to sweeten the deal, and it will also issue up to 29 million shares (on the same basis) – in addition to $6 million in cash to shareholders of NOD to facilitate that acquisition.

As a result, shareholders in OJC, SPC and NOD will hold respective investments of 15.5%, 69.2% and 15.3% of the combined business – which will trade on the ASX under the ticker SPG.

OJC will also undertake a 10:1 consolidation of its shares concurrent with the transaction, and intends to host an extraordinary general meeting in November to allow shareholders to sign off on the deal.

SPC chairman Hussein Rifai said the transaction was a crucial step in the three companies’ global strategy, and was of particular importance to SPC since it had divested from Coca-Cola Amatil in 2019.

“Our goal is to create ‘better, healthier food for the future.’ Since acquiring SPC from CCA, our strategy has been to firmly establish ourselves as a leader in both the Australian and global markets,” he said.

“Building a strong foundation in our home market is vital for sustainable growth and success.”

OJC has been trading at 18 cents.

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Two weeks ago, Olam Agri – through its subsidiary Olam Agri Australia Pty Ltd – raised its bid offer to $0.75 per Namoi share, up from an initial offer of $0.66, as it fends off competition from the Louis Dreyfus Company (LDC) for the acquisition of Namoi.

The two companies have been in competition for Namoi since May, with LDC’s offer currently sitting at $0.67 per share.

The ACCC has previously expressed concern about the Olam Agri offer, suggesting it could weaken competition in the supply of cotton ginning services in New South Wales’ Lower Namoi Valley, as well as the nationwide supply of cotton lint classing services.

The acquisition would result in Olam Agri operating four out of five cotton gins in the valley, and would hold interests in two companies – ProClass Pty Ltd and Australian Classing Services Pty Ltd – which are together responsible for more than 80 per cent of all cotton lint in Australia.

On this basis, the ACCC is seeking views on a court-enforceable undertaking requiring Olam to divest its Queensland Cotton gin at Wee Waa in New South Wales and its 20% share of ProClass Pty Ltd.

The regulator went through a similar process in relation to the LDC offer, expressing concern about this in May, before it was resolved through the company’s divestment of holdings related to cotton ginning and cotton lint classing service sectors.

ACCC chair Gina Cass-Gottlieb said such a step was necessary before the regulator could sign off on the Olam Agri acquisition.

“In assessing Olam’s proposed undertaking, we will need to be satisfied that it will effectively address our competition concerns in the supply of cotton ginning services in the Lower Namoi Valley in New South Wales and the supply of cotton lint classing services Australia-wide, as well as being structured in a way that is practical and effective,” she said.

In addition to seeking these divestments, the ACCC is also scrutinising how such an acquisition might have a negative effect on coordination between companies in this sector in relation to cotton lint marketing, cotton warehousing and some regional ginning markets.

It has stated that ‘multiple linkages’ will be present between Olam and LDC following the former’s takeover of Namoi.

Several Namoi shareholders have thrown support behind the Olam Agri offer.

Namoi shares have fallen on the news, and at 12:24 AEST, they were trading at 69 cents – a fall of 3.50% since the market opened.

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The Singapore-listed Olam Agri has been in a bidding war with Louis Dreyfus Company (LDC) since May for the proposed acquisition of Namoi. It had initially offered $0.66 cents per share, but has upped the offer several times, and extended the offer for a third time – to October 8 – earlier this month.

LDC’s current offer price is $0.67 cents per share, as confirmed in May this year.

On September 11, Namoi provided the market with a First Supplementary Target’s Statement in response to LDC’s offer, confirming that its Independent Directors had unanimously recommended shareholders to accept the offer ‘in the absence of a superior proposal and subject to the Independent Expert continuing to conclude that the Offer is fair and reasonable’.

Following Olam’s renewed offer today, Namoi told shareholders it was considering both proposals, and would update the market in due course.

At the same time, Namoi shareholder Harvest Lane Asset Management Pty Ltd – which holds a 6% stake in the company – has recommended the company to accept Olam’s off-market takeover offer.

In June, financial regulator the ACCC raised concerns about the Olam Agri offer, given the latter company’s prior acquisition of Queensland Cotton – meaning its acquisition of Namoi would deliver it interests in two cotton grading companies which handle 80% of all cooton in Australia.

The regulator had raised similar concerns about LDC’s offer in May, but retracted them last month, based on court-enforceable steps taken by the company to lessen its asset holdings within the cotton ginning and cotton lint classing service sectors.

Namoi shares have risen on these developments. At 14:28 AEST, they were trading at 70 cents – an increase of 3.7% since the market opened.

In its original proposal, Olam Agri was offering shareholders $0.66 per Namoi share, but this was increased to $0.70 cents in the same month, as takeover challenger LDC had upped its offer to $0.67 cents per share.

Also in May, Olam seemed to be winning the bidding war as a major shareholder in Namoi Cotton – Samuel Terry Asset Management Pty Ltd – which holds a 25% interest in the former – announced its backing of the Singaporean group’s offer.

However, the deal is yet to be done, and Olam has since then announced three extensions to its offer – in June, July, August and September – while in the background, the ACCC has raised concerns about the potential impact of this takeover on local competition.

Additionally, the regulator noted that the acquisition would mean Olam had interests in two cotton grading companies handling 80% of all cotton in Australia (the second one being through acquisition Queensland Cotton), and could therefore manipulate the Australian cotton market to its own benefit.

The ACCC had previously expressed similar concerns about the Louis Dreyfus (LDC) bid, saying it could weaken competition in the supply of cotton ginning services in northern Western Australia and the Northern Territory, as well as lessening competition in the marketing of cotton lint and seed.

However, last month, the regulator said it would not oppose LDC’s takeover bid, accepting court-enforceable steps taken by Louis Dreyfus Company BV and its subsidiaries to divest its shares in ProClass Pty Ltd – which amounted to 20% – and to terminate its joint venture with WANT Cotton Pty Ltd, through which it would manage and operate a cotton gin near Katherine in the Northern Territory.

ProClass and Australian Classing Services (ACS) – which Namoi owns outright – provide cotton lint classing services, meaning that LDC’s steps to divest from the former would ensure that it did not have investment in the two companies which provide 80% of Australia’s cotton lint.

Namoi shares have been trading at 68 cents.

The acquisition of LiquaForce will cost $3 million cash and $0.75 million scrip, payable on completion, as well as $0.75m cash to be paid by September 30. It will be funded through the capital raising and a $2.9 million loan. The company has secured $1.89 million through a Placement and a Share Purchase Plan opens on May 10.

RLF Agtech has sought to achieve a ‘complete plant nutrition solution for Australian agriculture’, which it claims is the reason for its acquisition of LiquaForce Pty Ltd through a binding Business Sale Deed. LiquaForce has two manufacturing hubs in Ingham and Mackay in northern Queensland and has focussed on the sugar cane industry.

The acquisition will be through RLF’s subsidiary, RLF QLD Pty Ltd, and is set to be complete before the end of the quarter.

RLF Agritech managing director and CEO Ken Hancock said the acquisition would not only boost his company’s growth strategy, but shift its source of revenue from Asia to Australia.

“The Acquisition enables growers to benefit from the comprehensive range of RLF and LiquaForce plant nutrition products that cover the entire plant growth cycle to enhance yields, improve crop health and achieve better financial returns,” he said.

“Furthermore, the acquisition will considerably increase and diversify RLF’s revenue, which has been mainly generated from Asia.

“Post-completion, the Company expects approximately 60 percent of its revenue to be generated from Australia, greatly diversifying and reducing the risk of relying on revenue from one geographical region.”

While the company pointed towards lower crop protection prices impacting its insurance operations, and livestock prices sitting below the ten year mean, extraneous risks to the company’s operations remain in focus.

“First half trading for FY24 was significantly below expectations,” the company wrote on Monday.

“Subdued client sentiment” was quoted in a release from Elders which it linked to the BOM’s EL Nino declaration. All in all, profits could be hit by up to -30%. The company expects weather conditions to return to ‘neutral’ by late May, but the damage has already been done.

Subdued client sentiment is one way to put it. What this means is that growers are expecting smaller yields due to El Nino, which means they’re accessing Elders non-growing-services products less.

Then you’ve got the fact that the WA winter crop has started later than usual. While soil conditions on the east coast remain favourable, a lot of soil in WA remains dry.

The company was brief in its assessment of what troubles in WA will bring, describing WA only as a “key broadacre market.” It doesn’t help that WA livestock prices are fetching less than they are in the eastern states.

In other words, the West Australian wheatbelt is a massive money maker for Elders – and ever-increasing summer heat is drying out the soul in this region. A ton of wheat from Kwinana currently costs $380/tn on the market after recent increases – something Elders will now miss out on.

Clearly, with the stock diving 25%, the writing on the wall wasn’t missed by the market on Monday.

“Conditions remain dry and warm in some parts of Western Australia which will push sales into the second half of FY24,” Elders wrote.

Underlying earnings before costs are expected to be between $120-$140M for the full FY24.

ELD shares last traded at $7.38.

In two words, Vysarn has its eye on one market: water trading.

“By leveraging the company’s extensive in-house intellectual property VAM intends to target investment opportunities in water, infrastructure assets and associated opportunities to control, own and toll water,” the company wrote on Friday.

To get the company there, Vysarn has appointed a heavy-hitter Managing Director, former JP Morgan Executive Director Richard Lourey.

Mr Lourey has worked for the world’s largest investment bank (since it acquired UBS) across roles in London, New York, and Melbourne. In London, he acted as Head of Asia, ex-Japan.

But Mr Lourey’s key role that Vysarn has its eyes on is his status as a mover and shaker in Australia’s water market. He established our nation’s first dedicated water fund and headed fund manager Tyndall-tied entity Australia Real Assets.

He also acted as a Director of AWARE Water, an Australian water investment company. That company advertises itself as a provider to agriculture.

Australian water markets have grown rapidly over the last thirty years, according to the government regulator. A 2020-21 report estimated water market turnover in Australia was worth an eye-watering $6 billion.

Vysarn is WA-based, with a focus on WA water markets.

“Vysarn has unparalleled insight into the water opportunities and challenges in Western Australia,” Mr Lourey said ahead of his commencement in November.

“It is a privilege to be given the opportunity to realise these opportunities for the benefit of our shareholders, traditional owner partners and future investors in the Vysarn funds.”

But the industry is not without controversy. The east coast Murray Darling Basin water market inquiry, headed by the ACCC, caused a great stir at the time.

Ultimately, recommendations were put in place to introduce stronger safeguards protecting the resource, which prompted legislation. The government continues to prioritise the establishment of a new digital market hub.

In short, entities trade water allocation rights, which are tracked by the Bureau of Meteorology. The BOM notes that the value of the market can hit up to $7 billion.

In Australia’s largest state of WA, 4344 megalitres have been traded in the most recent data, with a volume-weighted average price of $34.49/ML.

Canberra-based Department of Agriculture noted in an April 2023 market outlook that 2023-24 year ahead pricing for the Murray Darling Basin is set to hit an average price much higher at $80/ML.

VYS shares last traded at 19 cents.

The probability of an El Niño climate in Australia sits at 70 per cent, which holds the opposite effect to La Niña, resulting in less rainfall in parts of the country.

Canberra’s latest periodic data release on Australian agriculture, issued by the Australian Bureau of Agricultural and Resource Economics and Sciences, includes forecasted downtrends in production.

The value of agricultural exports in Australia is expected to fall by 16.5 per cent in 2023/24 due to lower production and prices.

The knock-on effect is then present for fertiliser producers, with fewer crops being planted in response to poor conditions meaning less demand for fertilisers.

Lower demand could mean that fertiliser makers need to lower prices, but if they stop producing in response to low demand, then supply issues could push the prices up.

ASX-listed companies in this space include Elders (ELD) and Incitec Pivot (IPL).

Wheat prices are expected to be volatile in the near term based on some supply concerns.

Macquarie Bank analysts noted that there is a high short interest in wheat futures right now, as people bet that demand will stay low.

Analysts pointed out that if there were to be a shortage of wheat, GrainCorp (GNC) could benefit financially.

Livestock prices continue to decline in Australia as demand for red meat weakens as high supermarket costs keep consumers looking for cheaper options.

The leading cattle index for the Australian market fell 3 per cent in June and remains down 49 per cent over the last year.

That’s half the market value of Australian cattle wiped out in the last year.

The regulator said it had investigated 330 businesses in regional ‘hot spots’ across Australia since its agriculture strategy began in December 2021.

Fair Work Inspectors have issued 64 infringement notices for payslips and record-keeping breaches totalling $176,028, with 55 of the infringement notices issued to labour hire entities and nine to growers.

FWO Sandra Parker said the regulator’s agriculture strategy highlighted the importance of an employer’s need to follow the rules with record-keeping and pay slip laws.

“It’s a red flag if workers can’t identify their employer and are paid cash-in-hand, without pay slips, by individuals seemingly unrelated to the apparent employing entity, and this is prevalent in multi-level supply chains where we consistently find wrongdoing,” Ms Parker said.

She said inspectors had consistently found higher levels of non-compliance in relation to labour-hire companies as opposed to growers, who directly engaged with workers.

In Adelaide and Adelaide Hills, the FWO investigated 34 businesses and issued $19,794 in infringement notices, while a further 27 remain under investigation.

Inspectors have also issued 18 compliance notices — 10 for underpayments and eight for non-monetary breaches split evenly across labour hire entities and growers.

Of these, five were handed out on the spot — three in South West WA’s Manjimup-Donnybrook region and two in Stanthorpe for employers who had failed to provide new workers with the required FWO information statements.

“Failing to hand out the Fair Work Information Statement or Casual Employment Statement to new workers is no trivial matter; we expect employers to meet this legal obligation which helps to keep their hard-working employees informed,” Ms Parker said.

Back in March, the Ombudsman inspected roughly 20 farms and labour companies around Manjimup and Donnybrook in WA’s Southwest and issued $5500 in fines after numerous anonymous reports from employees highlighted underpayments.

The FWO on Friday said it would continue with its unannounced inspections throughout the year and next year and urged that growers and labour hire entities were now on “notice”, as the FWO would enforce action where appropriate.

Nationally, 110 investigations under the Agriculture Strategy are still underway, and the FWO highlighted that many were related to pieceworker minimum wage changes.

Late last year, the Fair Work Ombudsman took legal action against a Queensland labour-hire company, alleging it underpaid 87 workers up to May 2020. The case is ongoing.

While not detected in Australia for more than 100 years, an outbreak of either disease would have a devasting impact on the nation’s livestock and associated industries.

The Department of Agriculture, Fisheries and Forestry (DAFF) in 2022 revealed that an FMD outbreak alone could cost Australia around $80 billion over 10 years.

For this reason, the Federal Government and Meat and Livestock Australia have been working to combat and assist in the fight to control foot-and-mouth disease (FMD) and lumpy skin disease (LSD) in neighbouring countries, including Indonesia.

The threats of FMD and LSD entering Australia’s shores have become a popular talking point in recent times following the detection of LSD in Indonesia in March 2022 and the detection of FMD in Bali in July 2022.

“LSD and FMD present the most significant threats to Australia’s biosecurity integrity in decades,” Australia’s Chief Veterinary Officer Mark Schipp said.

Through the Federal Government’s latest commitment, a departmental veterinary officer will be assigned to the United Nations Food and Agriculture Organisation (FAO) office in Indonesia in June 2023, providing a conduit between Indonesian and Australian experts.

“Providing on-ground technical support in Indonesia will help to mitigate the risks of the disease spreading in the region,” Dr Schipp said.

“This project will improve the ability to detect, control and prevent FMD and LSD in Indonesia and strengthen the capacity of national and local governments to arrest the further spread of these diseases.

“It will also allow livestock farmers and stakeholders to use best practices for prevention and control of FMD and LSD and improve communications between the Indonesian government and farmers.”

Dr Schipp said while Australia remained free from both diseases, it was critically important to support neighbouring countries in preventing and responding effectively to the diseases.

“Helping our close neighbours in this way also has a flow-on protective effect to Australia and other countries in our region,” he said.

“Our strong partnerships with countries such as Indonesia, Papua New Guinea and Timor-Leste is providing an opportunity for us to work together on issues of regional concern and also helps to safeguard our respective agriculture sectors and the industries on which they rely.”

Dr Schipp said the project was another example of the nation continuing to look for new ways to protect its farmers, producers and rural communities.

The project forms part of the $10 million biosecurity support package for Indonesia announced by Minister Watt and the Minister for Foreign Affairs in August 2022.

This funding has seen additional frontline biosecurity officers employed, the donation of four million doses of FMD vaccines to Indonesia, the redeployment of detection dogs to northern airports, and the introduction of sanitation foot mats at all international airports with flights from Indonesia.

In 2021, beef and veal were Australia’s second largest agricultural export, totalling $9 billion, while feeder cattle were Australia’s tenth largest agricultural export, totalling $1 billion.

FMD is a highly contagious disease that affects all cloven-hoofed animals including cattle and sheep, while LSD is also contagious and affects animals such as cattle.

In a statement to the ASX, CEO Jay Albany said in the company’s view, Dirty Clean Food was undervalued in the market, and management had decided to review strategic options to maximise its value.

“Dirty Clean Food has now grown for 15 consecutive quarters and successfully disrupted the food industry in Western Australia,” Mr Albany said.

“Dirty Clean Food is operating more efficiently as we scale, identifying cost savings opportunities, improving margins, and accelerating our push towards profitability with fiery determination.”

Mr Albany said the brand was in the process of expanding globally, beginning in Asia.

Simultaneously, WOA is focussed on growing the production of its Buntine Protein brand from kilograms and tonnes to large commercial scale, measured in thousands and tens of thousands of tonnes.

In line with this trajectory, the company has begun negotiations with a large production partner.

WOA believes its Buntine Protein should command the high end of the market range of between $9 to $13 a kilogram due to its “superior” functional, health and environmental benefits.

“A commercial plant of 10,000 tonnes at $10,000 per tonne, for example, creates a potential $100 million opportunity, versus the existing global soy market currently worth $10 billion,” Mr Albany said.

During the March quarter, Wide Open Agriculture secured $8 million in project-based funding for domestic oat milk production and a $4 million working capital facility.

The company said additional discussions had begun around financing for the remaining equipment needed for commercial production.

WOA’s Appendix 4C and Quarterly Report is expected by the end of this month, with a presentation call scheduled for May 1.

Shares in WOA closed 54.76 per cent higher on Wednesday afternoon.

The wheat has been developed over 20 years by Arista Cereals — a joint venture company formed by French farmer-led cooperative Limagrain — alongside Australia’s national science agency, CSIRO.

Allied Pinnacle, Australia’s leading flour and bakery manufacturer, in late March announced it had secured the exclusively-licensed patents for high-fibre wheat in Australia.

On Friday last week, CSIRO confirmed that high-fibre wheat, which offered health benefits to its consumers, was expected to be made available to Aussies this year.

The product’s benefits stem from the amount and type of fibre it contains — adequate for good gut health.

CSIRO said the high-fibre content was produced through conventional breeding to provide more resistant starch than traditional wheat.

Allied Pinnacle CEO David Pitt said the manufacturer was “investing in the future health of Australians”.

“Unlike other ‘healthy’ flours, high-fibre wheat and the resulting flour it yields, looks, tastes and bakes like regular flour, answering consumer demand for healthier products that don’t require any new eating habits,” Mr Pitt said.

“It’s a true grain-to-table solution that we’re proud to provide.”

According to the Australian Dietary Guidelines, Aussies are recommended to consume three to four serves of grain foods a day, with at least half as wholegrains or high-fibre grain foods. 

“Using high-fibre wheat in your favourite grain foods is an easy way for Australians to increase their intake of fibre without having to sacrifice taste or texture,” Allied Pinnacle General Manager of Innovation Robyn Murray commented.

“This is a big win for the grain food industry and the Australian consumer.” 

High-fibre wheat products are already available in the US and are being developed in both European and Japanese markets.

In Japan, Allied Pinnacle business owner Nisshin Seifun Group has exclusive rights to high-fibre wheat throughout the country.

Arista CEO Eric Vaschalde said entry into the Australian market would bring benefits to Aussies across the country.

“Following the introduction of this high-fibre wheat in the USA, Japan and Europe, I am delighted to announce a long-term partnership in Australia, home of our shareholder CSIRO,” he said.

“Consumers will now be able to enjoy the benefits of increased fibre in their favourite white bread, using only wheat, with no compromise to taste.” 

In 2022, Crop Life Australia revealed that Aussies weren’t eating their recommended share of whole grains.

Most Australian adults eat just 1.5 servings or 21 grams of whole grains per day — not enough to support peak health, according to the Australian Dietary Guidelines.

Data indicated that eating three servings, or 48 grams per day, has been linked to a 20-30 per cent reduction in risk of total mortality, cardiovascular disease, diabetes, stroke and bowel cancer.

The introduction of high-fibre wheat products in Australia this year could offer welcome relief for those wanting to boost their whole grains intake.

Beating the nation’s record set in 2021-22 by more than $2 billion, another record year for crop production and a third consecutive La Nina event to go along with continued inflation are contributing factors to the rise.

However, experts believe 2022-23 marks one last hoorah for La Nina, with 2023-24 agricultural production expected to fall 10 per cent to reach $81 billion.

Australian Bureau of Agricultural and Resource Economics (ABARES) Executive Director Jared Greenville said he expected a drier forecast to return for Australia, which would ultimately lower crop production for the 2023-24 financial year.

“Australia is benefitting from a third consecutive year of high rainfall, and it shows in the figures,” Dr Greenville said.

“Once again, we’re seeing record levels of production, driven by exceptional growing conditions and high commodity prices.”

Dr Greenville confirmed it would likely be the last year for Australia to benefit from La Nina’s weather patterns for a while.

“This year will likely be the last hurrah for the La Nina rain system for a while, and we can expect drier seasonal conditions ahead,” he said.

According to Australia’s Bureau of Meteorology, La Nina typically results in increased rainfall across much of the nation, cooler daytime temperatures, and decreased frost risk, among other conditions.

Australia has recorded its six wettest winter–spring periods on record in its east during La Nina years.

Despite floods and waterlogging devasting parts of Australia’s east through late 2022, causing losses of crops and disturbing harvesting, exceptional conditions across the majority of cropping regions in the nation yielded the highest production levels of winter crops on record over the 2023 financial year.

The record production levels were driven by record yields for wheat and canola, as well as a near-record production of barley.

The total value of agriculture, fishery and forestry production combined is expected to reach a record of more than $96 billion in 2022-23.

“National winter crop production has driven much of these results, with the winter crop estimated at a new record of 67.3 million tonnes in 2022–23,” Dr Greenville commented.

“This beats last year’s record by four million tonnes and is being driven by exceptional results out of Western Australia and South Australia.”

Additionally, droughts across the globe and the Ukraine-Russia war have seen a rise in demand for Australian exports.

The value of exports is expected to reach a record of $75 billion in 2022-23.

Another year of exceptionally large grain and oilseed harvests has led to an increase in export volumes.

“Australia has been very fortunate to have had wet years and high commodity prices. But we are expecting commodity prices to ease with competition stepping up in global markets,” Dr Greenville said.

“Recent high international prices have been driven by drought conditions in major exporters and disruptions from the war in Ukraine.

“But seasonal conditions are expected to improve in major producing regions which will see major exporters getting back on track in 2023–24,” he added.

Despite this, Dr Greenville has warned it won’t last forever, with Australia expected to see a shift back towards drier conditions at the same time as an ease in global production disturbances.

In 2023–24, Australian agriculture exports are predicted to fall to $64 billion.

Nevertheless, Dr Greenville said he believed the agriculture sector is in a strong position to deal with the times ahead.

“We’ve had three years to create a buffer and recover from the last drought, so many of our farmers will be well placed to ride out these domestic and international changes,” he said.

While Australia enjoyed three consecutive years of well above average rainfall, many of Australia’s international competitors have endured poor growing conditions and drought.

Roughly 20 farms and labour companies around Manjimup and Donnybrook in WA’s Southwest are being assessed by inspectors this week.

The FWO received numerous anonymous reports highlighting possible underpayments of agricultural workers, as well as the employment of visa-holding workers vulnerable to exploitation.

Information provided to the FWO raised concerns about the potential non-payment of overtime and public holiday rates. Reports suggest some workers worked 11-hour days without overtime paid.

Also, the FWO noted there was unpaid time in workers’ final pay and inadequate breaks among some businesses.

The agency said it would assess compliance in line with workplace laws across the region.

Fair Work Ombudsman Sandra Parker said ensuring that proper practice was maintained across the agriculture sector remained a priority for the agency.

“Inspectors are out in the field to hold employers to account if they are not meeting their obligations,” Ms Parker said.

“We will take enforcement action where appropriate.

“We also act to ensure employers understand their legal responsibilities, including record-keeping and the minimum wage guarantee for pieceworkers.”

The FWO said it was important to reiterate to unaware migrant workers their rights when working in Australia.

“The agriculture sector employs a significant number of migrant workers, including backpackers, who can be vulnerable to exploitation as they may have limited English skills or become unaware of their rights or unwilling to raise concerns with their bosses,” Ms Parker said.

Following the pandemic, the Federal Government launched the Australian Agriculture Visa (AAV) program to address workforce shortages in the agriculture sector by building on existing government programs.

It was set up as a long-term contribution to Australia’s labour supply, intended to support Australia’s agricultural and primary industry sectors as they aspire to reach $100 billion in value by 2030.

Additionally, the Australian Government confirmed that as of early April 2022, more than 23,000 Pacific and Timorese employees were in Australia — the most the nation has had at any one time before.

With the influx of new workers from overseas who may have limited skills in communicating with Australian bosses, it has become even more of a priority for the FWO to crack down on unfair pay that may exist within the Western Australian agriculture industry.

The FWO sent inspectors to speak with growers, managers and employees on the ground.

The inspectors are looking for low rates of pay that breach the Horticulture Award and are investigating record-keeping and payslip breaches, as well as failures to abide by the Fair Work’s national employment standards and failure to provide a Fair Work information sheet.

The announced investigation falls under part of the regulator’s Agriculture Strategy, which began in December 2021.

The strategy aims to target more than 300 businesses in 15 ‘hot spot’ regions over the course of two years where there has been a hint of non-compliance.

Sectors being investigated include viticulture, horticulture, meat processing and agriculture.

The FWO confirmed breaches have the potential to warrant court action, where penalties of up to $16,500 can be served for an individual and $82,500 for a company.

The FWO’s investigation into agriculture businesses in Western Australia is part of its ongoing effort to ensure compliance with workplace laws and prevent worker exploitation.

STK is an Israel-based Agtech company most known for its botanical-based solutions for crop protection.

The partnership gives STK non-exclusive development and commercialisation rights for Qcide for crop protection applications. The company uses advanced botanical science and bio-ag technology in the development and commercialisation of botanical crop protection solutions, and has operations and product registrations in more than 30 countries.

The company said the crop protection market is valued at around US$16.6 billion (A$24 billion) per annum and continues to grow as the largest market segment for insecticides globally.

The deal follows a confidential material transfer agreement inked between the companies back in 2021, which assessed Qcide across different potential applications.

Bio-Gene CEO Richard Jagger said the term sheet caps off the company’s longstanding efforts working alongside STK.

“STK has been working intensively with our technology for some time now, and the data they have obtained give both companies great confidence in the applicability for STK’s target markets,” he said.

“Not only does STK see the commercial potential for our technology, but they see the benefit in collaborating with Bio-Gene to accelerate the registration process; to invest in an additional production base; and to explore mutually beneficial marketing arrangements.”

STK will fully fund registration costs relating to the Qcide active ingredient as part of the partnership, however, Bio-Gene will obtain the IP relating to it.

Bio-Gene has the option to work with other commercial partners in the development and commercialisation of products in all market segments, both in crop and non-crop applications, in the meantime.

Both parties have agreed to look at the potential for Bio-Gene to become a sale agent for STK product in Australia and New Zealand.

STK will also use its expertise in plantations and extraction technology to develop a secondary manufacturing and supply source for Qcide.

Binding terms have been agreed between the parties, leaving up to 90-days to finalise the paper work for the deal. The collaboration will last for as long as the USA EPA registration remains in place.

BGT shares last traded at 12 cents at 4:10 pm AEDT.

Under the agreement, ES France will be responsible for the sales and marketing, installation, collection, post-sale services and logistics support of Roots’ products in the French market.

The agreement will provide Roots with direct access to key industries in environmental and food production agriculture across France.

Further, it marks another “important validation” of the company’s technology as it continues to consolidate its position and execute on new business development initiatives across global markets.

Roots CEO and Chairman Boaz Watchel said the agreement was an importnat step in the company’s global distribution strategy as it leveraged the traction developed in core markets to expand into new jurisdictions.

“In that context, partnering with a distribution platform the calibre of ES France highlights the value proposition of ROOTS proprietary agri-tech products for major markets,” Mr Watchel said.

“As one of the major Eurozone economies, this distribution partnership also leaves ROOTS well-placed to pursue additional market opportunities across the EU, amid the ongoing rise in demand for tech solutions that boost agricultural productivity without harming the environment.”

Roots said the initial term of the exclusivity period was dependent on the achievement by ES France of specific milestones, with a minimum sales quota of €30,000 (A$47,500) in the first year.

If the agreement is extended, subsequent exclusivity periods will be dependent on the achievement by ES France of minimum sales milestones of €80,000 in the second year and €150,000 in the third year

Though this exclusive agrement is legally binding, the parties also intend to enter into a formal agreement within six months of the agreement date.

Shares in Roots closed at 0.2 cents on Tuesday afternoon.