Rancher is a public listed company and has owned 55% of the voting shares of Fodder for a number of years. Rancher is a cattle stud and sells breeding stock to farmers. Fodder is also listed and is the largest supplier of stock feed to primary producers in Australia. Fodder owns 60% of the voting shares in Rural Holdings, a listed property trust that owns significant farming properties across Australia.

Rancher purchases all of its cattle feed from Fodder, on 60-day terms. These purchases comprise 12% of Fodder's total sales. Over half of the sales of breeding stock by Rancher are to farms owned by Rural Holdings. Sales of breeding stock are normally on 45-day terms. Purchases and sales by Rancher both occur consistently throughout a year.

One of the farms owned by Rural Holdings is in drought and couldn't pay an amount owed to Rancher, for the purchase of stock. Rancher wrote the receivable off and isn't pursuing the farm for payment.

Required:

Explain the related party disclosures required by IAS 24 for the relationships and transactions discussed in this case. All transactions occurred during the current reporting year.