| ||AWB Basis Pool closes today|| ||
AWB Limited will close its 2001/2002 season Basis Pool at 5pm today.
AWB Limited General Manager Trading, Peter Geary, said growers who already had Basis Pool contracts could still deliver to those, but the closure meant no further contracting could be undertaken for the 2001/02 season.
Mr Geary said AWB’s Basis Pool was a valuable grain marketing option for growers who wanted choice, and the ability to play an active role in their price risk management strategies.
“The AWB Basis Pool has performed well, reflected in the fact that AWB announced in December it had achieved its best ever Basis Pool result for the 2000/2001 contracts,” Mr Geary said.
AWB also offers a risk management service, through AWB risk assist, to growers who choose its Basis Pool option.
AWB risk assist provides an all-encompassing service to support the Basis Pool, including wheat futures and currency transactions, financing of hedge positions and balanced advice on hedging with futures.
The 2002/2003 Basis Pool contract remains open, and growers who would like to get involved with Basis Pool, or find out more about it, should contact their local AWB Area Office.