| ||Pool solid despite strengthening dollar|| ||
AWB Limited’s 2001/02 National Pool remains steady this week, insulating grower participants from a strengthening Australian dollar, and weak world wheat markets.
AWB National Pool General Manager Sarah Scales said the 2002/03 Pool estimate had been reduced, but AWB’s Pool management strategy has softened the impact to $5 per tonne.
Estimates for 2002/03 APW are now $205 - $215/t, and ADR1 between $280 - $290/t.
Ms Scales said as well as the strengthening Australian currency, AWB continued to face a tough environment in the international market.
“Australian wheat is already facing strong competition in world wheat markets, but the impact of that was compounded by the European Union decision to resort to subsidies again for the first time in more than twelve months,” Ms Scales said.
Ms Scales said during the past fortnight, the EU had announced the provision of an export subsidy of EU5/t, which has weighed on futures markets.
The next Pool Update will be Tuesday, 11th June, at 5pm
AWB Pool Estimates - May 27, 2002