On Wednesday 13th January 2010 AWB will make a fourth distribution of $145 million FOB (GST exclusive) which, after the deduction of supply chain costs, will provide a $131 million (GST exclusive) net payment to pool participants who delivered to the 2008/09 AWB wheat pools.

AWB General Manager Commodities, Mitch Morison, said the distribution would mean AWB’s 2008/09 pools were well over 90% paid out for most grades, with durum grades being 100% paid.

“Just before Christmas we advised that estimated returns from this pool had increased and that we intend to finalise all payments in March, which will be a month ahead of schedule,” Mr Morison said.

“This pool has been a ‘good news’ story in many ways: we have been able to increase its value since harvest deliveries started in that season, despite a sharply falling world market during 2009; we have been able to supply wheat to many customers who missed out due to drought in earlier seasons; and we have been able to generate greater value for growers through strong payment performance and by bringing cash flow forward.

“The good news doesn’t stop with the 2008/09 pool; growers using our Harvest Finance products in the 2009/10 pool, our current season, will see a top-up applied for advance payments and harvest loans in the later part of January, with details of rates available a little closer to the time.

“Our 2009/10 wheat pools are still open and receiving for all grades except durum, with benchmark APW grade wheat estimated at $263 a tonne in the Eastern Pool and $257 a tonne in the Western Pool (FOB, excl GST),” Mr Morison said.

Growers with any queries about their payments should contact the AWB Grower Services Centre on 1800 054 433.

Media Inquiries:  Ian Desborough 03 9209 2335 or 0418 853 881

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