AWB Limited has announced its 2009 season Nominated Estimated Pool Returns (NEPRs), for those growers who will utilise AWB’s Pool Payment and Finance Options for the current wheat harvest.

AWB General Manager Commodities, Mitch Morison, said the announcement would allow growers to plan their marketing with confidence, with AWB’s grain marketers and Grower Services Centre available to work through each grower’s individual needs.

“AWB offers a full suite of market leading finance and payment options, with our AWB Loan and AWB Advance Payments options being fully underwritten.  This provides growers with great value, security and flexibility, all of which are important,” Mr Morison said.

“Our Advanced Payment initial payment has risen this year to be 70% of the NEPR less costs, while our underwriting fee has reduced to $1.50 a tonne.

“It is important to remember that the payments we are offering though our finance products will be topped up as the season progresses. Our intention is to progressively raise the levels and “top-up” earlier payments as sales prices and hedging benchmarks for AWB pools are achieved.

“Growers who have taken advantage of AWB’s Early Commitment Premium contracts will receive an even higher harvest cash flow, as their $15 or $10 a tonne premium will be incorporated when calculating loans and payments.

“Clients have the flexibility to select from AWB’s payment options as they progress through harvest load by load, with the ability to use a single option or combine payment options to suit their needs,” Mr Morison said.

The nature and timing of payment will vary according to the options the client selects;

• AWB Loan – establishes a credit limit based on a minimum of 70% of the NEPR, less estimated costs. Growers may nominate an amount to be automatically drawn down at harvest or they can draw down up to the remainder of their total credit limit when it suits them. The total credit limit will be reduced as AWB Pool distributions are paid. If growers have used AWB Harvest Loan in the past and want to continue to do so no action is required, just deliver to AWB Loan.
• Advanced Payment – majority of cash at harvest in the form of a payment, rather than a loan.  Initial payment based on 70% of the NEPR, less 100% of estimated costs.
• Deferred Payment – up to 90% of the July 2010 EPR less costs, paid in the July following delivery.

AWB encourages growers to check the AWB website and familiarise themselves with the terms and conditions for its 2009/10 season pool payment and finance options, before utilising these products.

For further information on AWB Harvest Finance growers should contact their local grain marketer or contact the AWB Grower Services Centre on 1800 054 433.

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

EASTERN POOL: Nominated Estimated Pool Return 2009/10 AWB Pool ($/t FOB, excl GST) 

WESTERN POOL: Nominated Estimated Pool Return 2009/10 AWB Pool ($/t FOB, excl GST) 

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