| ||Media Release: AWB $47 million additional pool payment|| ||
AWB will make final pool payments of $46.8 million to growers who sold wheat through AWB’s 2005/06 and 2006/07 National Pools. The funds arose from the settlement of outstanding commercial issues along with finalisation of a number of contractual and other claims through the logistics chain.
Payments will begin flowing in the week starting 21 December, of $2.31 a tonne (excl GST) to participants in the 2005/06 pool and $1.92 a tonne (excl GST) across the 2006/07 pool.
AWB has gone through a detailed and extensive process to ensure Pool participants are correctly identified with current financial arrangements, given the passage of time since the 2005/06 Pool began.
Although a much smaller season, the 2006/07 Pool was also subject to a range of claims in the logistics chain and other issues, which are now fully resolved.
AWB pursues issues like these to generate maximum benefit for pool participants; however they take time, so the company is very pleased to have finally concluded these two pools with additional payments to the growers involved.
Media Inquiries: Ian Desborough 03 9209 2335 or 0418 853 881