AWB today released the Terms & Conditions for the 2008/09 season AWB Pools and Harvest Finance offering which sets the market standard for simplicity, flexibility and security of payment.
AWB Australia Commodity Division General Manager, Mitch Morison, said AWB’s commercial offer for the 2008/09 harvest will play to AWB strengths in managing pools, payment flexibility, harvest finance and security of payment.
"We have worked hard to ensure that our commercial offering for the coming season captures the strengths of AWB’s past such as underwritten payments and the flexibility of a mixture of loan and payment options,” Mr Morison said.
"While leveraging the strength of the past we have used the new market arrangements to streamline our product offering and reduce complexity. For example AWB Harvest Loan and Flexible Drawdown Loan have been combined and are simply now called AWB Loan.
“As previously announced, AWB will cover the national wheat crop through two regional wheat pools, for Western Australian and Eastern Australian markets. The two pools will reflect the markets for wheat from those regions, allowing participants to capture value unique to their location.
“Importantly, AWB’s wheat pools will continue to offer unrivalled security via trust structures and a range of proven, industry leading pool payment options.
“Growers who contract into AWB’s wheat pools will receive a $10 per tonne Early Commitment Premium. This option will be available from mid September,” he said.
AWB will continue to offer its quality based payments.
Mr Morison said the company had applied for export accreditation under the new wheat marketing regime* and had many loyal international customers who wanted to continue to buy wheat from Australian farmers through AWB.
Terms & Conditions for the 2008/09 season AWB Pool and Harvest Finance offering can be obtained from the AWB website http://www.awb.com.au/ or by calling the AWB Growers Service Centre on 1800 054 433.
* WEA disclaimer - "AWB’s ability to export wheat in bulk is dependant on being granted accreditation under the Wheat Export Accreditation Scheme."
Media Inquiries: Peter McBride on 03 9209 2174 or 0417 662 451
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