Matthew Canavan (Queensland, Liberal National Party, Minister for Resources and Northern Australia) Share this | Hansard source

As a result of those meetings, particularly the symposium last week with dairy farmers and dairy processors, the Treasurer has asked the ACCC to conduct a market inquiry into the dairy industry. This inquiry will look at the supply chain of the milk sector and will look into the bargaining and trading practices within that sector and the effect of world and retail prices on farm profitability. The inquiry follows on from the inquiry we announced earlier this year into the cattle and beef industry supply chain. We are able to do these inquiries, given the investments that the government has made through its agriculture white paper process and the Agriculture Commissioner we have added to the ACCC. During these inquiries, the ACCC will have recourse to its information-gathering powers and be able to compel witnesses to make sure it gets to the bottom of the trading practices in these markets.

We will continue to work with the dairy sector to make sure we have a strong, efficient and resilient dairy sector in our country.