Sugar companies Wilmar and Queensland Sugar Limited have reached an in-principle agreement to end a long-running stand-off that was threatening the harvest season in North Queensland.
Singaporean-owner miller Wilmar and marketing company QSL on Friday announced they had reached agreement on the three issues that had been holding up a deal.
QSL managing director Greg Beashel released a statement confirming the parties were now working on the next stage of the process.
"That final contract and its implementation is now our primary focus," Mr Beashel said.
The deal came after the state government appointed a mediator to settle the issue, and Agriculture Minister Bill Byrne said he was very happy with the result.
"I would like to acknowledge the efforts of both companies and the contribution of former Queensland Supreme Court Judge Richard Chesterman who mediated on behalf of the Queensland government," Mr Byrne said.
But opposition leader Tim Nicholls claimed its proposed legislation to force mediation, which was defeated in parliament this week, forced the issue to a head.
"We sincerely hope the finish line is within sight for a dispute which has dragged on for over two years," Mr Nicholls said.
"Our interest has always been to ensure growers and their families are supported."
Mr Nicholls also criticised the minority Labor government for voting down his legislation, but Labor has accused the LNP opposition of trying to cynically exploit cane farmers in a bid to keep federal colleague George Christensen from leaving the federal coalition.
The companies' inability to reach a new supply agreement, which determines mill access and sugar prices, has meant about 1500 farmers have been unable to crush their cane ahead of the 2017 season.