| ||Media Release: AWB 2008/09 pools $195 million first payment|| ||
AWB will make its first distribution of $195 million FOB (excl GST) to wheat growers participating in its 2008/09 season wheat pools on Wednesday, 8 April. After deduction of supply chain costs, the net payment to growers will be $159 million (excl GST).
AWB General Manager Australian Commodities Stuart Richardson said that AWB’s sales program was proceeding well, with wheat being placed to both export and domestic customers.
“Our wheat pools are selling well and this first distribution represents around 22% of estimated pool equity, with some grades a little higher and others lower,” Mr Richardson said.
“Those growers who contracted in late September or early October to receive AWB’s $10 a tonne premium for early commitment to the pools will receive that additional benefit in this first distribution.
“The early commitment program was strongly supported by growers last year and helps the sales and pool management process considerably, so the premium recognises that benefit,” Mr Richardson said.
Benchmark grade APW wheat currently has an estimated return of $330 a tonne in the AWB’s Western Pool and $335 a tonne in the Eastern Pool (FOB, excl GST).
Growers with any queries about their payments should contact the AWB Grower Services Centre on 1800 054 433.
Media Inquiries: Ian Desborough 03 9209 2335 or 0418 853 881