| ||2000/2001 Pool returns increase|| ||
AWB Limited’s National Pools are set to capitalise on the more favourable international market outlook which has emerged in recent weeks.
Changes to AWB’s National Pools announced today include:
- An increase to the 2001/2002 Pool estimate of $11 per tonne to $252.30 – 263.30 (FOB/GST inclusive).
- Introduction of a 2001/2002 Durum 1 estimate of $313.50 to $324.50
- Increases to the 2000/2001 Durum, Soft, GP and AUH Pools
- Increases to the Golden Rewards protein scales in the Prime Hard, Australian Hard, AUH and APW pools for wheat over 11 per cent protein
AWB (International) Limited General Manager Sarah Scales said last week’s USDA forecast of a tightening in US wheat stocks and reduced in Hard Red Winter wheat production, would provide AWB with more marketing opportunities for Australian wheat.
“While crop conditions in the US are improving, the reduction in expected US wheat carryout is welcome from an Australian perspective, and that is reflected in the changes to both or 2000/2001 and 2001/2002 estimates,” Ms Scales said.
“In recent weeks we have seen premiums for higher protein wheat improve substantially, and we are able to reflect those premiums back to growers who delivered to the 2000/2001 National Pool through the flexibility of Golden Rewards.”
Ms Scales said the increase to the old crop Durum Pools and the introduction of a Durum estimate for the coming season reflected AWB’s confidence in its Durum marketing strategy.
“By coming out with our Durum estimate early this year we hope to give durum growers confidence in the outlook for the coming season as they begin their planting programmes.”
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 28th May 2001 at 5pm EST.
For more information contact AWBs Grower Services Centre on 1800 054 433.
For Media inquiries please contact Paul Ryan on 0408 347 282.
Pool Update tables