A deal has been exposed between Queensland Sugar Limited and Wilmar, which would have given the multinational giant selling rights to Australia's $1.7b raw sugar industry.
The ABC was anonymously provided with a copy of the agreement, which sets out a plan for the sugar marketer, QSL, to contract 100 percent of its sugar supply, which the ABC says is about 90 percent of all raw sugar exports, to Wilmar.
The plan was to be put into place before the 2014 crushing season, but would have been subject to the buy-in of other QSL pool participants, ie growers or milling companies.
QSL chief executive officer, Greg Beashel, told ABC Rural the document was a non-binding agreement about a proposed model being discussed 12 months ago, and is now "redundant".
KAP Leader and Federal Member for Kennedy, Bob Katter, said the secret agreement is an indication that the government is "sweet on privateering."
"Our ALP-LNP governments almost seem to support monopolies," he said. "Government has failed to make any declaration against this outrageous proposal for Wilmar to take control of the single desk seller, which would give them total monopoly powers at the farm supply end and at the international retail end.
"The fact that it could even be discussed meant that it had to have tacit government approval from the LNP state government."