AWB Australia Commodity Division General Manager, Mitch Morison, today launched the 2008/09 wheat pool commercial offer following accreditation under the new wheat marketing arrangements.
“With AWB Harvest Finance export accreditation granted by Wheat Exports Australia, AWB can now launch its 2008/09 season pool contracts, which allow growers to access AWB’s 2008/09 Number 1 Pool and will initially offer growers a $10 per tonne premium above the final pool return for early commitment, Mr Morison said.
“AWB Pools contracts will be available to growers from Thursday, 18th September, for both AWB’s Eastern and Western Pools.
“AWB pool contracts provide guaranteed access for contracted tonnage into our pools – an important feature as growers have told us that they are concerned about the potential for pools to close during harvest.
“Making AWB Pool contracting even more attractive is our $10 per tonne Early Commitment Premium. This is available to growers who contract into AWB’s wheat pools between Thursday 18th September to Friday 10th October, or until the offer is withdrawn.
“Tonnage contracted early enables us to begin a sales and planning program, which benefits the pools. Growers who contract early allow this process to begin and should be rewarded accordingly. Our scope to achieve the premium is not limitless, so it is a case of ‘first come, first served’ until the premium offer is full, after which the contract will revert to a standard form.
“After the premium offer concludes we intend to offer growers the opportunity to contract into pools as we have done in previous years, to ensure growers have the opportunity to guarantee themselves access to AWB pools.
“AWB will provide pool grade spreads and protein increments in the next AWB Pool update on Monday September 22nd. We expect the pool’s EPR and grade spreads to remain volatile in the new marketing environment. We will continue to refine both as we build the quality profile of our pool and begin our sales programme,” Mr Morison said.
Terms & Conditions for the 2008/09 season AWB Pool contract offering can be obtained from the AWB website (http://www.awb.com.au/) on Thursday or by calling the AWB Grower Service Centre on 1800 054 433.
Media Inquiries: Peter McBride on 03 9209 2174 or 0417 662 451
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