AWB today announced today that its 2012/13 WA Lupin Pool will be finalised in April 2013, eight months ahead of schedule.
AWB Mr Richard Williams: “We made the decision to fully sell the 2012/13 Lupin Pool to capture value before the South American soybean crop comes onto the market.”
“The market is anticipating a large South American soybean crop in April and this is likely to place considerable pressure on exports markets for Australian lupin prices in the second half of 2013,” Mr Williams said.
“Therefore we believe that selling the lupins in the pool early was in the benefit of pool participants.
“The majority of our sales program was focused on the Asian region and we continue to develop strong relationships with a range of customers in Asia.
“With the sales program complete and the shipping program drawing to conclusion we will then have the 2012/13 AWB WA Lupin Pool independently audited before finalisation occurs in April,” Mr Williams said.
The 2012/13 Western Australian Lupin Pool Estimated Pool Return (EPR) of $355 a tonne (FOB, excl GST) remains unchanged.
Media contact: Peter McBride 03 9268 7362 or 0417 662 451