The Australian Banana Growers’ Council (ABGC) has announced that the expected settlement of the TR4 infected farm in Tully will be deferred, pending the outcome of testing of a suspect plant from another Queensland property.
The ABGC received formal notice yesterday from the Commonwealth‘s Department of Agriculture and Water Resources (DAWR) to return the $3.3 million loan for the Tully property purchase. The notice resulted from a condition in their contract with ABGC relating to a suspect plant.
Settlement of the purchase of the Tully property was due September 29 and the ABGC is working with the farm owners to navigate forward with sensitivity and defer the settlement date.
ABGC hopes to retain the $3.3m and complete settlement, if, as expected, the samples don’t test positive for Panama TR4.
Biosecurity Queensland (BQ) is testing the plant samples. These could be confirmed as negative for Fusarium next week, or proceed to full diagnostic testing, taking another three weeks.
ABGC Chairman Doug Phillips expressed his disappointment at the latest development, however he remained hopeful of a positive outcome.
“Obviously we could not have anticipated this situation occurring,” Mr Phillips said.
“However, ABGC’s intention is to work with the Robson family to ensure we can continue towards an outcome that involves completing the property settlement as intended,” he said.
For more information:
Communication’s Manager
Paula Doran
Mob: 0447 615 135