| ||Pool firm despite tough export environment|| ||
AWB Limited has kept its National Pool estimates steady this week, against a backdrop of slow world wheat demand and intense export competition.
Estimates for both the 2001/02 and 2002/03 AWB National Pool are both unchanged, with 2001/02 APW remaining at $239 per tonne (fob, GST exclusive), and the 2002/03 APW estimate at $210 - $220/t.
AWB National Pool General Manager Sarah Scales said despite the tough environment, AWB had been able to secure end user demand and continue providing the Australian farmer access to key markets for their wheat.
“Our solid pool management performance is highlighted by the fact that Australian export sales during the past month have actually outstripped those from the US, who are a much larger exporter overall,” Ms Scales said.
“At the moment the world market is being weighed down by extremely slow demand, and increased export competition from non-traditional wheat exporters such as the former Soviet Union, Eastern Europe and India,” Ms Scales said.
“As a result, the USDA in its May outlook predicts that the coming year will see the smallest US export program for 30 years,” Ms Scales said.
The next Pool Update will be Monday, 27th May, at 5pm.
National Pool Update