AWB National Pool has made a number of changes to Estimated Pool Returns (EPRs) this week, with the Pools riding out an increase in currency and a widening international price spread.
Changes to 2005/06 AWB National Pool pay grades include an increase of $3 per tonne for high protein hard wheat varieties APH and APHP, a $1/t increase for AH, AHP and AUH, and a $2/t increase for all durum grades.
Meanwhile benchmark APW remains unchanged at $191 (FOB, GST exclusive), while ASW is $176.00/t.
AWB has made several adjustments to the Golden Rewards protein scales for the 2005/06 AWB National Pool, increasing discounts for hard wheat pay grades with lower protein levels while increasing protein payments for most hard wheat grades in the higher protein range.
For the 2004/05 Number 1 Pool, AWB has increased EPRs for durum and noodle wheat in line with increasing international demand. AWB has also increased EPRs for APH and FEED pay grades by $2/t and $4/t respectively, while it has lowered white wheat and AGP by $1/t. Similar changes to the EPRs have also been made to the Number 2 Pool.
AWB has also made several adjustments to the Golden Rewards protein scales for the 2004/05 Number 1 and 2 Pools, increasing protein payments for a number of grades above 11.1% while increasing discounts for a number of pay grades with between 6% and 10% protein.
General Manager AWB International Sarah Scales, said this week’s changes closely reflect the widening international price spread.
"We have been able to make increases to EPRs across a number of pay grades for the new season, which highlights the increasing global demand for high protein hard wheat and the opportunities we see for that wheat in the international market," Ms Scales said.
"The National Pool is seeing the results of its strong sales program, which along with AWB’s hedging strategies, has protected and enhanced the value of the 2004/05 pools."
"In what is proving to be a challenging international market, AWB has bucked the downwards price trend and increased EPRs in certain pay grades in all three pools. This is great news for local farmers," she said.
The next AWB Pool Update will be on the 12th December 2005.