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Growers who utilised AWB’s harvest finance for their 2008/09 wheat pool deliveries will benefit from a $48 million top-up payment that will occur overnight on Wednesday, 13 May.
The top-up applies to almost all grades in the Eastern and Western Pools. It will mean that advance payments on most grades will exceed 80 per cent of the nominated estimated pool return and harvest loan payments will be an average of 91 per cent for most major grades.
Stuart Richardson of AWB Australian Commodities said that top-up amounts vary between $19 and $37 a tonne across grades, with the average being $30 a tonne.
“We are very conscious of growers’ cash flow needs at sowing time, so making this payment in May has been a high priority for us,” Mr Richardson said.
“Our pools are performing well, with benchmark grade APW holding steady on an estimated return of $327 a tonne in the Western Pool and $332 a tonne in the Eastern Pool (FOB, excl GST).
“We are managing product inquiry for both bulk and containerised shipments, from customers who are keen to purchase Australian wheat and to do so from AWB, so the program to market these pools is progressing well,” Mr Richardson said.
For further information on AWB Harvest Finance growers should contact their local Grain Marketer or contact the AWB Grower Service Centre on 1800 054 433.
AWB media contact: Ian Desborough 03 9209 2335 or 0418 853 881
EASTERN POOL - Estimated Pool Return 2008/09 AWB Pool ($/t FOB, GST exclusive): |