Agribusiness buzz in brief: Bendigo Bank, Rabo, Sea Forest, RSPCA

The latest merger move in the fast-consolidating superannuation sector has the Meat Industry Employees' Superannuation Fund (MIESF) teaming up with CareSuper to form a $57 billion fund.

The meat processing workers' fund's decision to fold its 17,000 membership and $1b in assets into CareSuper will create one of Australia's 20 biggest superannuation groups.

CareSuper, established 40 years ago to represent clerical and professional management employees, also recently absorbed the fund representing the Motor Trades Association of Australia, Spirit Super.

Meanwhile, another meat sector retirement fund representing butchers and meat workers, Australian Food Super (formerly the Australian Meat Industry Super Trust) emerged with the biggest shareholding (16.5 per cent) in the new-look SPC Global canning and juice company when SPC re-listed on the stock market in December.

Australia's superannuation industry, with $2 trillion under management, has consolidated from 230 funds to about 100 in the past decade and is forecast to shrink to about 80 in three years.

Two super-sized super funds, Australian Retirement Trust and Australian Super, handle more than half of the nation's retirement savings, or almost $660b.

Huon Aquaculture's RSPCA-approved certification of farmed Atlantic salmon has been revoked after an initial 14-day suspension and subsequent investigation into inhumane handling of live fish.

The decision followed the release of a video showing workers putting live fish into crates alongside dead fish and then sealing the containers.

The Tasmanian-based fish farming business, bought for $425 million in 2021 by Brazilian meat processing giant, JBS, after a drawn out share battle with billionaire mining and agribusiness investor, Andrew Forrest, had previously enjoyed a long RSPCA accreditation history.

RSPCA Australia chief executive officer, Richard Mussell, acknowledged the video, filmed from an overhead drone, represented a single incident, but the decision to withdraw a certification reflected how seriously the animal rights organisation took incidents which compromised animal welfare.

"Fish, including those farmed for human consumption, are sentient beings and, like other animals, can experience pain and suffering," he said.

.........

Rabobank has appointed Brazilian banker, Pollyana Saraiva, as State country banking manager for Queensland replacing Brad James, who retires after more than 20 years with the bank.

He has held the Queensland manager's role in an acting capacity.

Ms Saraiva moves from Rabobank's Latin American business, where she headed rural banking, based in Sao Paulo, for the past six years.

Rabobank group executive for Country Banking Australia, Marcel van Doremaele, said Ms Saraiva was a seasoned leader with 30 years' experience in financial services, food and agribusiness, including a strong background in agricultural banking.

"Pollyana comes from an agricultural background and has extensive experience in supporting family farming enterprises that are active in a number of commodities including cotton, grains, soybeans and beef cattle," he said.

Latest customer satisfaction rankings for the financial sector from the Roy Morgan group have Bendigo Bank enjoying a 87.7 per cent lead among home loan customers, largely due to a strong customer service focus.

In second place at 83.3pc, ING was praised for low fees and competitive interest rates, while Macquarie Bank ranked third at 82.9pc, also benefiting from similar strengths in fees and rates.

Suncorp Bank made the biggest improvement in the past year, rising 5pc to 79pc, also winning recognition for good customer service.

Bankwest experienced the biggest customer satisfaction fall, down 17pc to 72pc after closing its Western Australian branches.

Carbon neutralising stockfeed supplement maker, Sea Forest, has appointed seasoned agribusiness boardroom identity, John McKillop, as chairman to replace co-founder, Stephen Turner.

Sea Forest recently cut its board numbers to reflect scaled back feed supplement production volumes and company spending as it responds to restrained customer demand.

It has, however, just secured its first commercial-scale feedlot supply contract for its seaweed-based products.

McKillop has had a busy directorship and executive career in agribusiness, including board jobs with Dairy Australia, Meat and Livestock Australia, Dairy Farmers Milk Co-operative, investment group, Compass Agribusiness, and rural property agencies CBRE and LAWD.

His management roles have spanned some of Australia's largest livestock operations, including Stanbroke Pastoral Company, Clyde Agriculture, Hassad Australia and Gina Rinehart's Hancock Agriculture and S. Kidman and Company pastoral businesses.

Mr McKillop is currently chairman of the Red Meat Advisory Council, Regional Livestock Exchange, Manor Estates Holding, Maxsil Fertiliser, and agri-tech company, Black Box.

.........

Ben Barlow, the board director appointed to West Australian-based liquid fertiliser specialist, RLF AgTech, during a tumultuous management revamp last year, will take over as chairman next month.

Sydney-based Don McLay, a former investment banker and stockbroker who has led numerous company boards, is stepping down from the chairman's role he has held since 2021.

Mr Barlow is the former managing director of Victoria-NSW border-based New Edge Microbials and now chairman of livestock nutrition biotech business, ProAgni, and on farm services agency group, AWN's board.

Retiring Mr McLay said he was departing believing the company, which has processing plants in Queensland and China, was never better positioned for significant growth.

He said RLF had restructured and emerged from 12 months of tremendous struggle with leadership issues, including replacing its managing director, unrealistic market expectations and economic realities.

Transporters involved in moving the summer winegrape harvest have been the focus of a month-long blitz by the National Heavy Vehicle Regulator to address safety risks posed by the grape deliveries from vineyards to wineries in NSW, Victoria and South Australia.

Operation Fortified was initiated to ensure trucks and other heavy machinery were operating safely when they hit the road.

Primary risks related to grape harvest transportation include driver fatigue during night shifts or while waiting to load or offload and spillage due to overloading.

"Grape spills have a significant impact on the safety of other road users, creating slippery surfaces that can increase the risk of catastrophic accidents," said NHVR chief operations officer, Paul Salvat.

More than 270 inspections focused on fatigue management, identifying potential grape spillages and mechanical compliance checks.

One of Australia's largest delegations of food and beverage exporters has been pitching our quality agricultural production and food credentials in the Middle East at one of the world's biggest food industry trade events.

A diverse range of products from premium meats, vegetables and dairy to innovative health foods and non-alcoholic wines were featured at Gulfood in Dubai in Australian government and industry exhibition stands.

Companies represented included Australian Vintage, Sunny Queen Australia, Nature One Dairy, Perkii Probiotics, Australia's Manuka, Australian Tea Masters and The Ethical Drinks Company.

"Gulfood provided our food exporters the opportunity to connect with importers, distributors and buyers from the Middle East, Africa, Europe and South Asia," said Austrade Trade and Investment Commissioner, Todd Miller.

In the meat hall, 35 Australian exporters were represented and Austrade partnered with Meat and Livestock Australia to host workshops promoting our beef and sheep meat to distributors and buyers.

Austrade hosted the Australia Lounge where producers and international buyers explored partnership opportunities, while all states were represented at the Australian Pavilion, including Tasmania for the first time.