By PHILIPPA STEVENSON agricultural editor
Agriculture Minister Jim Sutton is picking an end to the apple industry's $50 million foreign exchange row within a fortnight.
After meeting the minister yesterday, Enza chairman Tony Gibbs was also hopeful that the dispute over liability for the claimed foreign exchange loss would be resolved inside
two weeks.
But neither man said how the issue, which has brought the $600 million industry to the brink of collapse, would be laid to rest.
Enza has said the forex costs are grower costs. Growers have argued that Enza shareholders, including Mr Gibbs' Guinness Peat Group and its fellow corporate investor FR Partners, own the company lock, stock and barrel - even if it contains the bad apple of botched forex transactions.
Yesterday, Mr Gibbs said he did not want to detail options open to the company, but was not happy with it being resolved by arbitration.
Earlier, he said Enza was obliged to participate in arbitration initiated by several growers but that it was likely to take some time. He intimated that there could be quicker ways.
Mr Sutton said a significant number of consultations with other parties had to be carried out.
"I'm hopeful we can move these things forward over the next week or so," he said.
Opposition leader Jenny Shipley said yesterday that National was willing to support legislation to ensure growers were not unfairly made to pay the forex losses.
It would also back an independent inquiry on the issue, she said.
"There is significant uncertainty over the magnitude of the losses and the decisions that caused them.
"As an exporting nation we need to know what went wrong so we can minimise such losses in the future," she said.
Mr Sutton said that although it was nice to know the Government had the confidence of the Opposition, it was unlikely it would legislate to resolve the issue.
"Only in the most extraordinary circumstances will the Government intervene to prevent people from accessing the rights provided to them in law."
Legislation was not impossible, but growers had initiated arbitration with Enza as provided for in their supply contracts, and the industry's watchdog, the Apple and Pear Board, also had an investigation into the company's forex dealings underway.
Mr Sutton said it was important for those processes to run their course.
