15 Mar 2021
The NSW Government is undertaking a review and consultation into rice vesting in NSW to determine whether vesting continues to be in the best interests of the industry and community.
NSW Department of Primary Industries Manager of Data and Insights, Michael Rollin, said before deciding on the future of rice vesting the Government is seeking feedback from growers and industry to help guide the best outcomes for the industry.
“It is important growers get the best possible returns from rice sold outside Australia based on the quality differentials or attributes of Australian rice,” he said.
“The review will examine whether the Rice Marketing Board export single desk is providing NSW producers with a price premium over what they could otherwise earn from an open export market.
“This assessment will help to determine if rice vesting provides a net benefit to the community.”
All rice produced in NSW is ‘vested’ in the Rice Marketing Board of NSW, with the current ‘Vesting Proclamation’ due to end on 30 June 2022.
Mr Rollin said policy settings must support a resilient and competitive NSW rice industry into the future.
“NSW produces 99% of Australia’s rice, averaging more than 600,000 tonnes over the last 10 years,” Mr Rollin said.
“The annual rice crop in NSW was worth $243 million in 2017-18 before the impacts of drought began taking its toll on the industry - highlighting the important contribution this industry makes to the rural and regional NSW economy.
“Australian rice producers are among some of the most efficient and highest yielding in the world. This production is focused on short and medium grain rice varieties which are uniquely suited to our conditions and highly regarded in overseas markets.”
Submissions to the review are open from 10 March 2021 and close on 21 July 2021, and the Terms of Reference and an Information Paper is available from the NSW DPI website.
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