Market Purchase with Industry Investment Update

Market Purchase with Industry Investment –

Opportunities and Benefits

The hundreds of businesses that work at and use the Melbourne Wholesale Fruit and Vegetable and Flower Market every day have the strongest possible interest in the industry's growth, development, and long-term sustainability.

We think industry investment in the ownership and operations of the Melbourne Market is critical to the ongoing growth, development, and modernisation of the market.

In each Fresh State of Affairs, we will provide an update on the plans behind the Market Purchase with Industry Investment. These updates will be in the order of the following areas: ¡ Opportunities and Benefits

¡ Participation

¡ Implementation

OOpportunities

PROTECT VICTORIAN JOBS WITH

INCREASED INDUSTRY INVESTMENT

GREATER UNITY BETWEEN THE

NATIONAL CENTRAL MARKETS

CENTRAL MARKET SYSTEM

CONTINUITY AND INCREASED

STRENGTH

PROVIDE OPEN ACCESS TO THE MWM

BY THE BROADEST POSSIBLE SET OF

PARTICIPANTS, BUSINESSES AND

INVESTORS

BBenefits

CENTRAL MARKET

SYSTEM CONTINUITY AND

INCREASED STRENGTH

ALLOW COMPETITION

ACROSS THE ENTIRE

INDUSTRY TO ENSURE

COMPETITIVELY PRICED

PRODUCE

FUTURE PROOF THE MWM

THROUGH EXPANSION PROTECT VICTORIAN JOBS WITH INCREASED INDUSTRY INVESTMENT

CREATE A RELIABLE FIT FOR PURPOSE GOVERNANCE MODEL TO ASSURE QUALITY, FOOD AND WORKPLACE SAFETY, ACCESS TO MARKET FOR WHOLESALERS, GROWERS AND RETAILERS

Opportunities and Benefits

Industry ownership allows the market to: ¡ Be more efficient

¡ Be part of a national network with co-investment, sharing of ideas, and operational benefits

¡ Maximise opportunities presented by new technologies

¡ Be modernised in terms of work practices and trading hours

¡ Establish a viable, sustainable long-term model for all market participants.

Key benefits of Industry Ownership include: ¡ Businesses that work in the markets will benefit from their investment long term. This will encourage further investment, renewal, and modernisation.

¡ The Melbourne Market would become part of a national network of other industry-owned markets. The national platform leads to more throughput, growing businesses, better access to higher quality produce. It could also lead to reduced operating costs through leveraging the national network with suppliers and service providers.

¡ Strengthen the relevance of the central markets to avoid fragmentation.

¡ Attraction of new entrants

¡ Retention of existing businesses, particularly across generations.

¡ Providing a sustainable platform for small retailers and small independent supermarkets to continue operating.

¡ Retains and grows jobs in Victoria.

¡ Investors can fund future market expansion as it is their core business, thus avoiding further

State investment.