| ||Media Release: AWB 2009/10 pools $160 million first payment|| ||
AWB will make its first distribution of $160 million FOB (excl GST) to wheat growers participating in its 2009/10 season wheat pools on Wednesday, 14 April. After deduction of supply chain costs, the net payment to growers will be $119 million (excl GST).
AWB General Manager Commodities Mitch Morison said that AWB’s sales program was progressing well in what continues to be a very competitive market, with wheat being placed to both export and domestic customers.
“We are pleased with our physical sales program to date, with over 1.5 million tonnes sold to core markets, of which 300,000 tonnes has been sold to non-traditional pool customers,” Mr Morison said.
“Our pool distribution represents a range of 18-24 per cent of estimated pool equity across the full range of wheat grades.
“Those growers who participated in AWB’s Early Commitment Premium programs last year will receive those premiums as part of this first distribution, which for many will mean an additional $15 a tonne,” Mr Morison said.
AWB’s benchmark grade APW wheat currently has an estimated return of $242 a tonne in the AWB’s Western Pool and $240 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