RGA states support for SunRice ASX Proposal

22 August 2018

The Ricegrowers’ Association of Australia (RGA) supports the SunRice ASX Proposal and believes that this proposal will enable SunRice to raise the capital it requires to implement its 5-year Growth Strategy.

The RGA strongly feels that this 5-year Growth Strategy is critical to ensuring the successful future of the rice industry in the Riverina. In particular, this strategy is the key mechanism that will enable SunRice to deliver a more competitive price for rice to ensure rice remains a viable option within farming systems.

Irrigation farming within the Riverina has been impacted by a number of external pressures over the last two decades. Like all businesses, future sustainability and success is subject to the ability to adapt to opportunities and challenges.

RGA President Jeremy Morton said, “The RGA sees that SunRice’s 5-year Growth Strategy provides SunRice with the best chance of addressing these opportunities and challenges to take our industry forward. The ability of SunRice and the broader Australian Rice Industry to adapt and change will determine the future success of our industry.”

“We do not believe that what is being proposed changes the fundamental purpose of SunRice. Rather we feel that this proposal enhances SunRice ability to achieve its overarching purpose of receiving, processing and marketing rice in order to achieve longterm improvement in both the returns for growers and the profitability of the company.”

The RGA strongly encourages every grower member to make their vote count. In doing so, we recommend growers consider the current and future opportunities and challenges faced by the Australian rice industry.

“Think about what the industry will likely look like in the short, medium and long term future and in particular how SunRice’s 5-year Growth Strategy will influence our farming systems, supply chains, infrastructure and most importantly, our ability to continue to sell premium branded and value added products to the most discerning rice customers across the globe,” said Mr Morton.

The RGA asks that growers review the information available to them, speak with their respective advisors, and participate in the vote for the SunRice ASX Proposal at the SunRice Annual General Meeting on 20 September 2018.


Media Contact:

RGA Communications Manager, Leah Wythes – 0488 071 165