AWB today reduced the Estimated Pool Returns (EPRs) for the 2008/09 AWB Eastern and Western Wheat Pools for all wheat grades except durum this week due to significant softening of global wheat prices over the past fortnight.
The EPR for APW in the Eastern Pool was reduced by $30 a tonne and the EPR for APW is now $326 (FOB, GST exclusive) and the durum grade DR1 remains at $440 (FOB, GST, exclusive).
The EPR for APW in the Western Pool was reduced by $41 a tonne and the EPR for APW is now is $318 (FOB, GST exclusive) and the noodle grade EPR is now $318 (FOB, GST exclusive).
AWB Australia Commodity Division General Manager, Mitch Morison, said the reduction in the EPRs for the Eastern and Western wheat pools reflects a significant fall in global wheat prices.
“While the Australian dollar has depreciated it has not offset the recent substantial declines in US wheat futures and global wheat prices,” Mr Morison said.
“Chicago Board of Trade December wheat futures have declined over 50 per cent since record highs in February 2008.”
“Many wheat farmers around the world increased their planting to try and take advantage of the high wheat prices last year and this factor is weighing heavily on US wheat futures.
“International wheat prices continue to decline as the Black Sea and Europe compete to attract export wheat sales.”
Growers are reminded that the AWB Pool contracting period providing $10 per tonne Early Commitment Premium is currently open. This option is available to growers who contract into AWB’s wheat pools between prior to Friday 10th October. Growers who contract into AWB wheat pools will be required to fulfil contract commitments to AWB as outlined in the terms & condition. AWB wheat pools can close at any time to protect pool returns.
Media Inquiries: Peter McBride on 03 9209 2174 or 0417 662 451
EASTERN POOL - Estimated Pool Return 2008/09 AWB Pool ($/t FOB, GST exclusive):
|
Pool Pay Grade Base Rate |
Estimated Pool Return |
Change |
|
APH2 (13% protein) |
$341 |
Down $30 |
|
AH1 (13% protein) |
$338 |
Down $30 |
|
AH2 (11.5% protein) |
$332 |
Down $30 |
|
AUH2 (Flat protein) |
$322 |
Down $30 |
|
APW1 (10.5% protein) |
$326 |
Down $30 |
|
ASW1 (Flat protein) |
$311 |
Down $30 |
|
AGP1 (Flat protein) |
$301 |
Down $30 |
|
AUW1 (Flat protein) |
$276 |
Down $30 |
|
HPS1 (Flat protein) |
$301 |
Down $30 |
|
FED1 (Flat protein) |
$251 |
Down $30 |
|
DR1 (Flat protein) |
$440 |
Unchanged |
|
DR2 (Flat protein) |
$420 |
Unchanged |
|
DR3 (Flat protein) |
$380 |
Unchanged |
WESTERN POOL - Estimated Pool Return 2008/09 AWB Pool ($/t FOB, GST exclusive):
|
Pool Pay Grade Base Rate |
Estimated Pool Return |
Change |
|
AH1 (13% protein) |
$330 |
Down $41 |
|
AH2 (11.5% protein) |
$324 |
Down $41 |
|
AUH2 (Flat protein) |
$314 |
Down $41 |
|
APW1 (10% protein) |
$318 |
Down $41 |
|
ANW1 (Flat protein) |
$318 |
Down $41 |
|
ASW1 (Flat protein) |
$303 |
Down $41 |
|
AGP1 (Flat protein) |
$293 |
Down $41 |
|
AUW1 (Flat protein) |
$268 |
Down $41 |
|
SFT1 (Flat protein) |
$323 |
Down $41 |
|
FED1 (Flat protein) |
$243 |
Down $41 |
|
DR1 (Flat protein) |
$440 |
Unchanged |
|
DR2 (Flat protein) |
$420 |
Unchanged |
|
DR3 (Flat protein) |
$380 |
Unchanged |
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