Five facts about sale of M’boro cane farms
THERE'S been many misconceptions and rumours around MSF Sugar's sale of more than 5000 hectares of Maryborough's cane farms.
So the Chronicle has created a top five list of what we know right now, plus questions we have asked on notice about the industry's future.
1. Rural Funds Management Limited is contracted to buy more than 5000 hectares of sugar cane farms in the Maryborough region.
2. The company will buy the farms, along with 8060ML of water entitlements from MSF Sugar, for $81.1 million.
3. The company plans to progressively convert the farms to about 2200 hectares of macadamia orchards, with much of the remaining area to be used for cropping.
4. The Maryborough Sugar Mill was not included in the sale despite reports which suggested otherwise. The 2020 sugar cane crush will go ahead. The Chronicle has repeatedly questioned MSF Sugar abou future of the mill but no response has been received.
5. The settlement is expected to happen in October.