Australia Introduces New Wheat Port Code from October 1

Australia has updated its national Wheat Port Code regulating bulk wheat export terminals, with the revised framework due to come into effect on October 1.

The new code will operate for three years and introduces a more streamlined regulatory approach centered on good faith and transparency requirements for operators of port terminal facilities.

Under the revised rules, terminal operators will be required to publish port loading statements and port loading protocols in a timely manner. They must also provide standard terms and reference prices.

The Australian government has accepted the recommendations of a review that called for the wheat export industry to move toward a system of self-regulation. The three-year Wheat Port Code will therefore maintain regulatory oversight during a transitional period while the industry works to establish its new self-regulatory framework.