| ||Media Release: AWB malt barley $2 up, first payments flowing|| ||
AWB has increased its estimated pool returns (EPRs) for malting barley by $2 a tonne for all grades, taking the EPR for Baudin/Gairdner malt to $269 a tonne. Feed barley estimates are holding steady, with Feed 1 at $187 a tonne (FOB, excl GST).
In further good news, AWB has brought forward the first cash flow for barley growers who have chosen its Advance Payment option through AWB Harvest Finance.
AWB General Manager Commodities Mitch Morison said first payment would now occur before 25 December, rather than January as originally planned.
“Growers who have committed barley to our pool have given us strong indication that they would prefer an earlier cash flow, so we have been able to bring forward payments of up to $120 a tonne, depending on grade delivered,” Mr Morison said.
“It’s one of the benefits of pools; cash flow while still having exposure to the market and having AWB manage the marketing process on their behalf.
“There is customer demand for early malting barley cargoes for China, so with concerns generally about the volume of malting barley that will be available from Australia after adverse harvesting weather, malting values have shown considerable strength in recent weeks.
“Feed barley has steadied, although export values are being assisted by the weaker Australian dollar.”
AWB’s barley pool is accepting accept F1 & F2 barley in WA & SA, as well as Baudin, Gairdner, Buloke and Vlamingh malt varieties in WA.
New EPRs: F1 $187/t, F2 $177/t, BA1 $269/t, GA1 $269/t, BU1 $259/t, VL1 $259/t (EPRs are FOB, excl GST).
Media Inquiries: Ian Desborough 03 9209 2335 or 0418 853 881