Foreign ownershipWell, here we go again - another one bites the dustI see the Chevalier Group - a Chinese conglomerate with interests in cars and construction – has bought the Moriatis Group, Australia’s largest fruit and vegetable wholesalerChevalier has purchased a 70% stake in Moriatis for $210 millionThe deal was approved by the compliant Foreign Investment Review BoardMoriatis supplies local supermarkets (including Woolworths and Coles) and greengrocers and also has interests in growing, processing and packaging fruit and vegetablesNeedless to say, Chevalier says it wants to boost Moriatis’ exports to China where it already has an existing relationship with CRE, China’s largest supermarket chainI suppose this deal will be characterised as another Chinese “investment” in Australia’s interest?It is not an investment - it is a “purchase” just as so-called investments in Cubbie Station and other Australian agricultural properties are purchasesWhy are we continuing to compromise our food security in this way?Australian investors are not allowed to own agricultural land in China or even to own a stake in mining, steelmaking or telecommunications in ChinaYet foreigners already own 11% of Australian sheep, wheat and beef farms, 9% of water entitlements, 50% of wheat exports, 50% of milk processing, 60% of raw sugar milling and 40% of beef productionAdd to that now control of a large section of the fruit and vegetable marketWill someone please stand up for the national interest

The Alan Jones Breakfast show: Highlights

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