| ||AWB WA lupin pool price update|| ||
AWB today announced a $3 a tonne increase to its 2011/12 Lupin Pool price following the completion of the pool’s shipping program.
The Western Australian lupin pool price is now at $253 tonne (FOB, excl GST).
AWB Richard Williams said: “We recently loaded the last of our pool lupins onto a vessel bound for Korea and with the completion of the lupin shipping program we are now moving to finalise the inaugural AWB Lupin Pool.”
“We are currently finalising the last bulk shipment and once completed the pool equity will be audited by an external auditor before we announce the final pool return and payment date,” Mr Williams said.
“We are aiming to finalise the lupin pool in the next four weeks which is well ahead of our commitment we communicated to farmers at harvest.
“The success of our inaugural lupin pool has relied heavily on our partnership with Irwin Valley Milling and its shareholders.
“The lupin pool has enabled us to build an excellent relationship with Irwin Valley Milling, provided Western Australian lupin farmers with more marketing options for their lupins and we have been successful in building good relationships with international customers for WA lupins.
“We intend to build on our relationships with Irwin Valley Milling members and our international customers going forward and we look forward to launching the 2012/13 lupins pool shortly,” Mr Williams said.
Media contact: Peter McBride 03 9268 7362 or 0417 662 451