Seasons Greetings 

With the dramatic changes in fortune affecting the stock market in recent months and the impact on the major economies world-wide, Christmas and all its trimmings is just the medicine to spread a little cheer and reflect on all that has gone and the year ahead.

This time last year, we were all very worried by the drought and the lack of water in the south-east of Queensland.

Thankfully, 2008 saw some good rains fall over the catchment areas which gave a little breathing space for all.

Brisbane Produce Markets Wholesalers have reported another strong calendar year, although not quite as high as the record throughput values achieved for the 2007/08 financial year.

Fresh produce prices have eased in the past 12 months with increases in supply volumes and ongoing buoyant demand.

Our shareholders were very supportive of the capital raising earlier this year by way of a Rights Issue to existing shareholders, which raised $9.96 million.  Many shareholders indicated their interest in obtaining further shares and future capital raisings will be required as the redevelopment of the site progresses.

BML opened the $33 million South Gate Development and moved ahead with its Master Plan for redevelopment over the next 5-10 years. The first stages of the plan have been given the green light after many months of negotiation with the Brisbane City Council.

This work will include development of a new access road, car parks and building platform to the north-west of the existing site, which is expected to begin early in 2009.

The government is once again ramping up the healthy eating message of programs such as ‘Go for 2 & 5’ which is good for our industry and our country.

The obesity crisis in both adults and children, its affect on our health and the subsequent the cost to our health system, is one issue that needs much more to be done if Australia is to reduce our standing as one of the world's fattest nations.

The Mandatory Code is yet to prove its worth in promoting good commercial practice.

Both BML and Brismark continue to argue for amendments to the code which facilitate flexibility in the trading relationship between growers and wholesalers.

Although the Code is under review at the present time, it is unlikely that any changes will be seen before mid 2009.

It is however, the time for composure and all industry organisations need to look at setting aside some of the longstanding prejudices which exist if the industry is to achieve an effective and workable outcome.

Seasons Greetings to all, may you and yours have a safe festive season and a prosperous 2009.