| ||AWB 2011/12 WA Lupin Pool price finalised|| ||
AWB today announced it has finalised its 2011/12 Western Australian Lupin Pool with a final pool return of $255.52 a tonne (FOB, excl GST).
AWB Richard Williams said: “We are pleased with the success of our inaugural lupin pool by achieving a solid pool return through a strategic marketing and sales program and building key relationships with international customers and Irwin Valley Milling members.”
“We have recently completed an independent audit of the lupin pool and are pleased to confirm the final equity,” Mr Williams said.
“There has been considerable price movement in the competing global protein market throughout the life of the 2011/12 Lupin Pool and through our structured marketing and sales program we were able to take advantage of the rise in protein prices to gradually improve the lupin pool return.
“We recently launched our 2012/13 Western Australian Lupin Pool which will be available to all Western Australian lupin farmers this year.
“The 2012/13 AWB Lupin Pool will look to build on an excellent relationship with Irwin Valley Milling and actively market lupins in early 2013 with a shorter marketing window.
“This strategy coupled with some good early sales, provide strong support to the 2012/13 AWB Western Australian Lupin Pool Estimated Pool Return of $355 per tonne.
“AWB also confirms that the Nominated Estimated Pool Return* will be set at $355 per tonne with harvest payments available within seven days of delivery,” Mr Williams said.
WA farmers wishing to learn more about the WA lupin pool should contact their local WA AWB representative or ring the Grower Services Centre on 1800 4GRAIN (1800 447 246).
*Nominated Estimated Pool return (NEPR): The NEPR is simply the EPR that we lock down at a point in time. The NEPR is only used to determine initial harvest payments to farmers who have elected to obtain the AWB Loan or Advance Payment Products.