COUNTRYMAN | Grains Research and Development Corporation claps back at claims it has $1 billion 'sitting in reserves'

Industry appetite for a grains levy review following news of a large sum of funds were held in Grains Research and Development Corporation reserves has prompted a public statement.

The GRDC has issued a statement indicating its reserves were at $1 billion was incorrect, clarifying that this figure was forecasted for the 2025-26 financial year and the current figure was at $680 million.

Countryman reported that GRDC acknowledged the current reserve amount was large, but defended the position as necessary for a long-term view of research and delivering value despite seasonal variations.

Grain Producers Australia has indicated it would seek for a review of the levy structure currently applying to the farmgate value of grain sold.

GPA Chief Executive Colin Bettles said redirecting some of the levy income towards Plant Health Australia for biosecurity activities was an option.

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