| ||Media Release: AWB barley pool closing 31 January|| ||
AWB intends to close its first-ever barley pool on 31 January, so is urging barley growers to commit promptly if they want to access this pool.
Operated in Western Australia and South Australia, AWB’s pool will also be making a top-up payment around mid-February, for growers who have used AWB’s Advance Payment option.
AWB General Manager Commodities Mitch Morison said malting growers in particular were seeing the pool perform well, with significant market upside captured since the pool opened in November.
“As the supply of malting barley in Australia tightened up during harvest we moved to capture domestic premiums and increased our pool estimate accordingly,” Mr Morison said.
“Our estimated return for feed barley has also increased and we have focused still further on meeting grower needs with improvements such as increasing up-front cash flow by reducing initial deductions, and actually bringing initial payments forward.
“When we launched this pool we said it would close at the end of January, so we are meeting that commitment and would encourage growers to make any final deliveries promptly.
“We will remain active in the cash market, after the pool closes,” Mr Morison said.
AWB’s barley pool is accepting F1 and F2 barley in WA and SA, as well as Baudin, Gairdner, Buloke and Vlamingh malt varieties in WA.
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