| ||$770 million in first distribution from 2001/02 Pool|| ||
AWB (International) Limited General Manager Sarah Scales today announced the first distribution payment from AWB’s 2001/02 National Pool, in which AWB will distribute more than $770 million to Australian wheat growers.
Ms Scales said the first distribution, to be paid to growers this week, reflected a solid start to the sales and marketing program for what was the second largest crop ever produced in Australia.
“We have a large logistical and export program ahead of us, within an increasingly competitive trading environment, and AWB has worked hard to meet those challenges and deliver this result,” Ms Scales said.
“It is in this environment that the power of the Single Desk wheat marketing system really comes to the fore, given AWB’s commitment to maximising returns to all growers who deliver to the National Pool,” Ms Scales said.
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 option, the instalment will be made into their bank account early next week.
There are no distributions for APWT, Feed or GUW. Ms Scales said while sales from these grades had been finalised, they are yet to be shipped and thus revenue has not been received.
The second distribution for the 2001/02 National Pool will be made early in July.
$770 million in first distribution from 2001/02 Pool - tables