| ||Sales program boosts pool returns || ||
AWB Limited today increased its 2000/2001 National Pool return estimates, reflecting the strong sales results for the pool sales program. The 2001/02 National Pool estimate was also increased.
The 2000/2001 pools for wheat have been increased $7.70 per tonne. The benchmark APW grade is now estimated to return $238.70 (GST inclusive). The 2000/01 Durum pool returns were increased by $13.20 a tonne.
The 2001/02 APW pool estimate was increased $8.80 per tonne to $241.30 - $251.30 including GST (approximately $223.90 - $233.00 GST exclusive).
AWB (International) Limited General Manager Sarah Scales said the strong early season sales program had made the most of market opportunities in the first few months of the shipping season.
“The combination of an aggressive sales and shipping program and an effective currency management strategy has contributed to this latest increase,” Ms Scales said.
"The recent weakness in futures markets underlines the value to growers in delivering their grain to AWB’s National Pool, because the pool is able to manage price risk for farmers in a volatile environment and deliver growers the premiums AWB can extract using the Single Desk.”
Apart from the increase in the Durum Pools there was more good news for DR2 and DR3 growers, with the Golden Rewards protein scales adjusted to increase the value of these pools.
“The shift in the protein scales reflects the better quality characteristics of this grain in 2000/2001. This has assisted our marketing team in getting better premiums for Australian durum, and the benefit of that flows back to all growers who deliver Durum to the National Pool.
Golden Rewards matrices reflecting current pool returns are available from AWB’s Grower Service Centre on 1800 054 433 or from AWB’s website at www.awb.com.au
AWB (International) Limited’s pool estimates are released fortnightly. The next update will be released on Monday 16th April 2001 at 5pm EST.
Pool update tables