Cobram Estate Buys California Olive Ranch

0:00It's March 31st. Welcome in. This is Adelaide News today, where local news meets AI. Australia's biggest olive oil maker, Cobra Mistate Olives, just sealed the deal on buying California olive ranch for nearly $260 million. This moved boost their US footprint after more than a decade of growth there, and they even saved $7,100,000 thanks to. A sweet exchange rate. The acquisition got the green light from the US Department of Justice earlier this month, wrapping up smoothly on Thursday. Back home in Northern Victoria, Cobra runs over 2.6 million trees across 7,000 hectares, solidifying their spot as a top player. Cobra Mkofounder Rob McGavin is pushing hard for Australia to copy California's water rules, where only actual farmers own irrigation water. Speculators jacking up prices during droughts. He points out how hedge funds from places like New York, bid against locals here, while the government holds over 35% of water in some.

1:00Zones for the environment. Water Minister Murray Watts' team says no change is coming, sticking to policies from over 30 years ago that split land and water titles to boost. Efficiency. Meanwhile, demand for extra virgin olive oil is exploding, with studies showing it cuts hard disease risk by 39% for heavy users. Industry leaders like Australian Olive Association's CEO Michael Southam see this as a win, predicting more growth here in abroad, especially with new. Trade deals opening Europe. Cobra Mkofounder Rob McGavin is lifting the whole game.