At its 91st Annual Meeting on 21st November, RMB Chair John Culleton reflected on the unseen nature of the Board’s work.
“Much of the RMB’s work has a low profile but it is work that has to be done nonetheless: In the normal course of events, the RMB has to:
● report to the NSW Parliament and advise DPI on rice-related matters
● ensure that it functions in accordance with all of the rules and regulations that apply to all NSW Government agencies
● self-fund its operations
● exercise oversight of SunRice’s performance as the holder of the sole and exclusive export licence
● encourage competition in NSW’s domestic rice market
● monitor the movement of rice grown in NSW to ensure that it is used for proper purposes
● certify the origins and variety of rice being exported by SunRice into certain markets
● undertake a range of engagement eg with SunRice, the RGA, DPI and rice growers
● contribute as a member of the RGA’s Central Executive and as an observer at the AgriFutures R & D Panel.
“These are standard activities for the Board but there’s hardly a year goes by where significant additional work does not also have to be done. For example, in recent years the RMB has had to consider whether the EBRO proposal to acquire SunRice was in the best interests of NSW rice growers and subsequently whether SunRice’s listing on the ASX was also in their best interests - these were major undertakings that required the RMB to undertake its own due diligence and to stress-test SunRice’s related propositions. Then, every five years the RMB is required to be part of a Vesting Review. I remind growers that all of this work is undertaken by a 7-person Board and 1 full-time employee.”
At the Annual Meeting, the major contribution of Robyn Clubb AM to the rice industry was acknowledged. Robyn will leave the RMB in March 2020.
For more information on any of the above matters, please contact Carol Chiswell on 02 6953 3200.