The one point against my argument I omitted is that if we look back at history, farmers' cooperatives have on occasion required new capital.
Murray Goulburn was one case. CBH in WA (grains) I think another.
And farmers tend not to be great at corporate governance, but FCG:NZ is that nation's 12th largest company.
There's more to this than 'The Oz' has reported (although I don't know exactly 'what').
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