| ||Further extension for 2001 AWB National Pool|| ||
AWB announced today it would be further extending the 2001 AWB National Pool.
General Manager AWB National Pools, Sarah Scales, said the consequences of the current world conflict and the risks surrounding contract execution, particularly with the Grains Board of Iraq, means that continued caution is needed towards pool finalisation.
“As a result of the circumstances in Iraq, we have seen some modification to our shipping program,” Ms Scales said
“Therefore we will not be making a sixth distribution in June as previously advised.
“We will keep growers fully informed on the timing of the next distribution as soon as the situation becomes clearer.
“AWB remains actively involved in discussions with the Australian Government and the United Nations in an effort to deliver an outcome that is in the best interests of Australian wheat growers.
“We do understand this uncertainty has implications on grower’s expectations of cashflow. However, we have recently paid a fifth distribution from the 2001 AWB National Pool which was our largest ever pool distribution, and this should help with cashflow for sowing,” Ms Scales said.
AWB initially announced in December 2002 that it would be extending the 2001 Pool and adding a sixth distribution in an effort to manage the risks associated with large stock volumes and maximise value for 2001 AWB National Pool participants.
For more information contact Peter McBride on 03 9209 2174 or 0417 662 451.
Top of Page