NSW Government renews Rice Vesting following review.

The Ricegrowers’ Association of Australia (RGA) welcomed the announcement to extend the rice vesting arrangements made yesterday by the Deputy Premier and Minister for Regional NSW, The Hon Paul Toole MP and the Minister for Agriculture and Minister for Western NSW, the Hon Dugald Saunders MP at the SunRice Deniliquin Mill.

 RGA President and rice grower, Rob Massina thanks the NSW government for listening to the RGA members and Riverina communities, and for extending the current vesting arrangements for another five years.

An overwhelming majority of RGA members and the wider rice growing community, expressed strong support for the rice vesting arrangements in NSW.  

“It was these sentiments supported by motions from all RGA Branches and further research into the benefits that guided the RGA’s submission into the review in support of the continuation. Members were also encouraged to have their own say about the marketing arrangements of rice in NSW,” said Mr Massina. 

The current vesting arrangements are important for rice growers as international rice markets do not fit the classic economic model where market forces are expected to deliver enhanced economic outcomes. 

There is no ‘global rice market’ and various government interventions including tariffs, quotas and world trade obligations mean that rice is not freely-traded.  Rice is also a non-homogenous product with strong preferences in individual cultures for different varieties of rice.

“The extension of the vesting arrangements will allow rice growers to participate competitively in global markets with their high quality rice,” said Mr Massina.

The RGA notes the NSW Government is also intending to commission another report, to consider the issues identified by the 2021 Review.  

Mr Massina said, “as part of this process, I would expect the NSW Government engage early with all industry stakeholders and that qualified experts are appointed to conduct the review.  It will be essential for the consultants to have a thorough knowledge of how rice is traded globally and in Australia.” 

You can read the Media Release issued by the NSW Government here.

You can read the RGA’s submission into the Rice Vesting Review here.

Media Inquiries:

Matthew Pete, Communications Officer
0488 071 165 | mpete@rga.org.au