AWB (International) Limited (AWBI) today announced changes to price estimates for the 2001/02 National Pool, resulting in healthy increases to Durum and Feed grade prices.
While the majority of the National Pool remained unchanged, $5 per tonne (FOB, GST exclusive) increases in Feed, ADR1, ADR2, and ADR3 were warranted following strong overseas demand for Australian durum and smaller feed wheat receivals than anticipated.
AWBI’s General Manager Ms Sarah Scales said all Durum grades have been increased mainly due to lower world production and the increased prospects of strong export demand.
“Australia’s durum quality this year is very good and the feedback we have received from the world’s major durum buyers over the last few weeks has been extremely positive.
“AWB has recently hosted a number of the world’s major durum buyers in Australia and their interest and feedback on this years durum crop was very pleasing.
“ADR4 has been lifted by $10/t as we are comfortable with the quality that has been received so far and the marketability of this grade of durum.
“Feed has increased by $5/t, bringing the price to $182/t mainly due to smaller feed wheat receivals than expected.
“AWBI’s Noodle grade has been lowered by $2/t mainly due to the size and quality of the harvest in Western Australia.
“APH has also been lowered by $2/t, bringing the price back to $280.50/t and Golden Rewards’ protein scales for the 2001/02 pool has been adjusted due to the continuing weakness of higher protein wheat prices around the world,” said Ms Scales.
Golden Rewards’ protein scales for the 2001/02 pools have also been adjusted.
There have been no changes to the 2000/01 National Pool.
The next National Pool update will be Monday 7th January 2002.