AWB Group General Manager Sales and Marketing Tim Goodacre today announced that AWB has introduced a new service, risk assist – to assist grain growers to manage their risk.
Grain growers using AWB Limited’s innovative risk management products can now execute their futures and currency transactions with AWB risk assist.
AWB risk assist provides growers with a comprehensive support service for their AWB Basis Pool contracts. Using risk assist a grower can:
- sell and buy Chicago Board of Trade wheat futures in line with Basis Pool tranche dates;
- undertake foreign exchange for their Basis Pool contracts;
- receive balanced advice about wheat futures and currency markets; and
- manage their exposure to margin calls.
AWB Group General Manager Sales and Marketing Tim Goodacre said that offering retail risk management services through risk assist was a logical progression for AWB, one of the biggest commodity risk managers in the world.
“AWB risk assist offers Australian wheat growers the opportunity to complete all of their risk management and pricing needs with their company, AWB Limited – a company which is recognised the world over as leaders in the field,” Mr Goodacre said.
The risk assist service will be available to AWB Basis Pool customers as an additional service.
AWB risk assist General Manager Patrick O’Shannassy will lead a team of specialist Client Services Managers and utilize AWB Area Office Network to deliver risk assist services to growers.
One of the key differences between AWB risk assist and other risk management services is that risk assist will help finance growers’ hedging activities where grain contracts are in place.
“By using AWB risk assist to finance their hedge position, growers will be able to keep more control over their cashflow throughout the year,” said Mr O’Shannassy.
“However the real bonus for farmers is that fulfilling all the requirements of a Basis Pool contract can all be done under the one roof – reducing the number of phone calls and contracts growers need to make to manage their wheat pricing effectively,” said Mr O’Shannassy
Growers who would like to know more about risk assist, or the AWB Basis Pool, should contact their local AWB Area Office.
For more information contact: Peter McBride, AWB Limited, on 03 9209 2174 or 0417 662 451