AWB will officially launch its 2015/16 Harvest Pool Managed Program for wheat growers across Australia this week.
The AWB Harvest Pool is a tool to help growers manage their risk and diversify their selling program while participating in upside and minimising downside of the market over a ten month period.
AWB Pools Manager Charlie Brown said the AWB Harvest Pool allows participating grain to have access to every market in Australia and across the globe by leveraging the expertise of AWB’s parent company Cargill, one of the world’s largest agribusinesses.
“We are pleased to announce the launch of the 2015/16 AWB Harvest Pool Managed Program which is designed to give Australia’s hard-working grain growers access to a leading risk management program aiming to deliver an above-average return,” Mr Brown said.
“With the unpredictable nature of pricing, the Harvest Pool can help manage risk for growers who are looking to ensure they are getting access to future prices without having to hold their grain, store it and wait, hoping that a better price will come, which is a gamble,” he said.
Key innovations to the AWB Harvest Pool this season have been introduced to better meet the needs of today’s grain producers. These include:
The introduction of returns for individual port zones, with pricing now at port level, rather than the traditional FOB based pricing, to be more relevant to a farmer and improve transparency
Finalisation of the program brought into October 2016 ensuring completion before next year’s harvest
An industry-low interest rate of 3.99 per cent on loan products
A market leading underwritten level increased to 80% for added security
Simplified choice in how and when growers receive their payments while remaining flexible enough to allow growers to manage their own cash flow or income stream
“These innovations have been designed to improve the Harvest Pool and make it an even better tool for growers,” Mr Brown said.
“Using the Harvest Pool as part of a diversified selling program means growers can focus on the next season, market the remainder of their grain, or dare I say it, give themselves a break, which we know is a very difficult thing for farmers to do,” he said.
To sell wheat in the AWB Harvest Pool Managed Program, phone AWB Grower Services on 1800 447 246 or phone your local AWB representative.
For more information or to interview AWB Portfolio Manager Charlie Brown please contact:
Kate Adamson on 0400 017 617
About the AWB Harvest Pool Managed Program
AWB is Australia’s leading provider of Harvest Pool Managed Programs for wheat producers in Australia and has a long and proud history of delivering and innovating Harvest Pool Managed Programs.
Since deregulation of the wheat industry in 2008 and the investment in AWB by parent company Cargill Australia since 2010, the AWB Harvest Pool has evolved to become a key tool to ensure Australia’s grain producers can participate in the global marketplace over a period of time, to minimise low prices and maximise high prices.
To use the AWB Harvest Pool, growers deliver a specified amount of grain to AWB which sells the grain both domestically and internationally over an extended pricing window which will end in October 2016. In addition to hedging the price, AWB will target physical sales for delivery within the January to September period.
The AWB Harvest Pool Managed Program is one of a number of risk management tools offered by AWB to help Australia’s grain growers thrive. AWB’s team of dedicated representatives are located in regional areas across the country to service Australia’s grain growers.
About Cargill Australia
AWB’s parent company Cargill Australia has been operating since 1967, and services the nation’s grain exports, grain and oilseed origination, oilseed processing, grain and cotton trading, grain storage and handling with 22 GrainFlow sites, malting with Joe White Maltings, as well as joint ventures in beef processing and flour milling.
Cargill worldwide employs 155,000 employees in 68 countries who are committed to feeding the world in a responsible way, reducing environmental impact and improving the communities where we live and work.