The company is looking to amend its constitution and move to a single share structure.

This will be decided at a meeting in Melbourne on August 21, with 75pc of voters needing to agree to the change for it to take effect.

"The market has moved and this company must move with the changing times," Mr Rackham said.

"It is essential that in a competitive market, AWB is able to raise working capital cost effectively, for cash purchases.

"Without change in its structure, the company's ability to raise capital may be inhibited."

Mr Rackham said the company's triple B minus (outlook negative) credit rating could impact on its ability to raise funds competitively in the marketplace.

The rating has twice been lowered – once when Landmark was purchased and again in the wake of the Cole inquiry.

"In a contestable market, AWB needs to be able to offer the most competitive and innovative products in the marketplace, which it will never do if its capital is constrained," he said.

"Growers need to recognise that in a contestable market, AWB needs to be as strong as possible so that it can raise the level of competition for everyone else.

"We need strong players to compete in the marketplace to maximise returns to growers."

South Australian Farmers' Federation Grains Council has also thrown its support behind the company's constitutional change.