GrainGrowers, Media Release, 17 May 2024
GrainGrowers is closely monitoring the impending sale of Incitec Pivot Fertiliser (IPF) to Indonesian government-backed fertiliser company PT Pupuk Kalimantan Timur (PKT) to ensure growers have access to a consistent supply of critical inputs.
GrainGrowers’ Chair Rhys Turton said the sales process had been underway for some time, with members expressing concerns over access to an uninterrupted supply of products.
PKT is one of Asia’s largest urea, ammonia, nitrogen, phosphorous and potassium fertiliser producers. It owns five ammonia plants and five urea plants, producing more than 3.4 million tonnes of fertilisers annually and supplying fertilisers to Australia.
GrainGrowers understands the sale process is progressing and will likely be subject to several conditions, including Foreign Investment Review Board approval.
“We have always said that access to Australian assets and resources should not come at the expense of Australian producers.”
This issue has highlighted the need for increased protections for Australian gas, potassium and phosphorus based resources. In particular, potassium and phosphorus need to be added to Australia’s critical minerals list given their importance to agriculture and food security.
Not having domestic access to Australia’s locally mined and processed fertilisers such as super phosphate and other fertilisers derived from the Phosphate Hill mine could compromise Australian agricultural production.
“If the deal is to proceed there must be safeguards to protect Australia’s resources to ensure agriculture in Australia can continue to function efficiently” Mr Turton said.
