AWB has announced that it will offer wheat pools for the forthcoming 2008-2009 harvest following the introduction of new wheat export marketing arrangements.
Mr Mitch Morison, General Manager of AWB’s Australian Commodity Management Division said AWB will remain a leading player in the grains industry following expected changes to the wheat export marketing arrangements and pooling will be a key component of AWB’s offering.
“Key elements of AWB’s proven pooling performance that Australian wheat growers are familiar with will remain such as the trust structure that protects pool participants, competitive harvest finance loans and payments, regular pool distributions and payment incentives for grain quality,” he said.
Mr Morison said the opening Estimated Pool Return (EPR) range for its APW wheat pool of $400 -$420 FOB per tonne reflects current record global grain prices.
“As Australian wheat growers will appreciate grain markets globally have been extremely volatile for the last twelve months, and we believe that trend will continue. Due to the pool estimate being un-hedged, the outcome of Northern Hemisphere wheat production over the next six months will have a major bearing on the direction of world values and AWB’s Pool EPR’s over that time will reflect that impact.
AWB will provide opportunities for pool participants to contract into its pools and begin its hedge program once legislative certainty has been provided to the industry, which is expected in July.
“AWB will continue to update its estimated pool return projections on a regular basis over the course of the year. We will also provide detailed updates on the local and international market environment to assist growers to continue to make informed marketing decisions,” said Mr Morison.
Media Inquiries: Peter McBride on 03 9209 2174 or 0417 662 451
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