Australian Growers Await Exit Offer

Source from:  tobaccoreporter.com Monday, October 23, 2006 10/25/2006

Tobacco growers in the state of Victoria are waiting to see what the Australian federal government is going to offer in the way of an industry exit package, according to a Border Mail report. British American Tobacco has apparently offered to fund a $10 million buy-out on condition that the 138 growers forego an existing two-year contract and do not plant another crop. But growers and industry experts say that this amount alone would not be enough to seal a deal. If more than 48 growers oppose the buy-out at a meeting due to take place on Thursday, it will be defeated. Enditem