| ||AWB National Pool distributes $900 million to growers|| ||
AWB (International) Limited today announced its second distribution payment from its 2001/02 National Pool, with more than $900 million to be distributed to wheat growers across Australia next week.
AWB General Manager National Pool Sarah Scales said the distribution reflected the well managed sales and shipping program, within a market where demand was weak and exports generally slow from other major wheat suppliers.
“AWB has continued to make good sales and shipping progress despite the considerable competition in the market from non traditional export origins such as India and Eastern Europe,” Ms Scales said.
“We are managing a large logistical program with one of Australia's largest crops, and AWB’s active currency and futures management, combined with our good marketing progress, is keeping growers on track for outstanding returns from the 2001/02 season,” Ms Scales said.
The second distribution for benchmark APW is $52.97 per tonne (FOB, GST Exclusive), taking the total amount distribution for that pay grade (at 10% protein, 5% screenings) to $91.59/t – about 40% of the current Estimated Pool Return.
AWB is also in a position to make strong distributions for Feed, APWT, GUW and SUW, after making shipments and receiving revenue for wheat from those grades
For growers who selected the Harvest Payment option this season, the distribution payment will immediately offset their loan amount. For growers who adopted the distribution payment, the instalment will be made into their account early next week.
The third distribution will be made early in October.
Tables - National Pool Second Distribution