A code of conduct — to replace a regulation under the Wheat Export Marketing Act — is presently being considered by the federal government and is planned to be in place by September 30.

A draft release was circulated for comment, with industry stakeholders having the opportunity to make submissions.

The present regulation, supervised by the Australian Competition and Consumer Commission (ACCC), only applies in eastern Australia to GrainCorp and to other bulk handlers in South Australia and Western Australia.

It relates to port operators giving access to other exporters, but does not apply to large multinationals and GrainCorp is hoping the code will close what it considers to be a loophole.

GrainCorp’s director of government and media Angus Trigg said last week his company was in a difficult situation.

“The issue we have is that our ports are regulated; there is some inequitable regulation that applies,” he said.

“GrainCorp ports are required to operate in a certain manner; they are governed by an access undertaking.

“But the non-GrainCorp ports are not captured by the regulations and are able to operate with flexibility and in a more commercial manner.

“All ports should be subjected to the same level of regulation and that’s not the case.”

Mr Trigg said it was difficult for GrainCorp to compete against overseas influences in the export industry.

“Essentially, these ports are owned by companies that are 10 to 30 times GrainCorp’s size,” he said.

“It is frustrating that we are not allowed to operate in the same manner as these ports, which are owned by companies that have much bigger balance sheets than we have.”