| ||2000/01 National Pool returns increase || ||
AWB Limited increased its 2000/2001 National Pool return estimates today for most grades. The benchmark APW grade estimate has been increased $3.30 per tonne to $247.50 FOB per tonne, including GST.
AWB (International) Limited General Manager Sarah Scales said international prices for higher protein wheats had picked up in recent weeks, mainly over reports of declining prospects for the American Hard Red Winter wheat crop.
“Hard Red Winter (HRW) wheat is the closest competitor to Australia’s higher protein grades, and a reduction in the US HRW crop in 2001 will provide AWB with more opportunities to capitalise on the good quality grain produced by Australian growers,” Ms Scales said.
“The domestic feed grains market continues to be driven by strong demand and limited supply, and this has been reflected by a $5.50 per tonne increase in the Feed, FED2 and ASC grades,” Ms Scales said.
The 2001/02 Pool estimate remains unchanged at $241.30 - $251.30 including GST (approximately $219.40 - $228.40 GST exclusive).
“Our sales program for the 2000/2001 pool is continuing at a solid pace, and the recent improvements in values at the quality end of the market is an encouraging sign for Australian producers,” Ms Scales said.
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 14th May 2001 at 5pm EST.