Australia's largest walnut producer, accounting for around 90 per cent of Australia's annual walnut crop. The company also operates irrigated farming production of cotton, corn, cereals, legumes and livestock. It also holds 150,000 megalitres of water entitlements. Bought Australian Rainforest Honey in 2019 for $8.2 million. Taken over by a Canadian pension fund in 2019.
| Public Sector Pension Investment Board
owns 100% of Webster Ltd
A 2017 Four Corners investigation revealed that billions of litres of water purchased by taxpayers to save Australia's inland rivers are instead being harvested by some irrigators to boost cotton-growing operations, in a policy failure that threatens to undermine the $13 billion Murray-Darling Basin Plan. The pumping of this environmental water means taxpayers have in some cases been effectively subsidising already wealthy agricultural interests, including those of this company.
Source: ABC (2017)
According to data released by the Australian Tax Office in Dec 2018, this company was one of 2,159 local and foreign-based companies that paid no tax in Australia in 2016-17. Please note however that companies pay income tax on profits, not revenue (total income). While some companies use tax havens and loopholes to avoid paying their fair share of tax in Australia, other companies that paid no tax have perfectly legitimate reasons.
Source: ATO (2018)
|Public Sector Pension Investment Board|
UNPRI is a set of six principles direct institutional investors may adopt to consider environmental, social and corporate governance issues when investing. UNPRI is a voluntary agreement.
Source: UNPRI (2020)
|Subsidiaries||Australian Rainforest Honey Pty Ltd|
|Address||148 Colinroobie Rd, Leeton, NSW, 2705, Australia|
|Phone||02 6951 3300|
Products / BrandsAustralian Rainforest Honey
Australian Rainforest some products certified organic