AWB will make a $603 million FOB (GST exclusive) payment which, after allowing for site-to-sea charges, will provide a $571 million (GST exclusive) net payment to Australian wheat growers who delivered to the 2007/08 AWB National Pool on Wednesday 9th July 2008.

AWB General Manager National Pool David Johnson said the 2007/08 National Pool received 4.35 million tonnes of wheat and the sales and marketing program is progressing well.

“We continue to target sales to key long term markets in Japan, South Korea, Indonesia, Malaysia, Sudan, Egypt and the Pacific Island markets (New Zealand, Papua New Guinea, New Caledonia, Solomon Islands & Fiji),” Mr Johnson said.

“The National Pool has been working hard to supply these markets right through the drought period as this continues to generate the greatest benefit to growers, both in prices achieved and the longer-term value to Australia of maintaining supply relationships.

“While the physical sales are almost complete we still have a significant shipping program for the rest of the year.

“We have paid out over net $880 million GST exclusive to Australian wheat growers who delivered to the 2007/08 National Pool when one takes into account the first distribution made in April.

“The third financial distribution will be in October and we currently expect to finalise the 2007/08 National Pool by December 2008.”

With this second distribution, an average of 33% of AWB Golden Rewards scales and 30% of freight, port and upcountry fees are to be paid.

Media contact: Peter McBride, 03 9209 2174 or 0417 662 451

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