| ||Media Release: AWB tops up 2009/10 wheat pools|| ||
Growers who utilised AWB’s harvest finance for their 2009/10 wheat pool deliveries will benefit from a $38 million top-up payment that will occur overnight on Wednesday, 20 October 2010.
The top-up applies to all grades in AWB’s Eastern and Western Pools and will represent 6-16% of the current estimated pool return (EPR) for 2009/10 season wheat. It will mean that AWB harvest finance clients will have received (or have available) payments representing 93-96% of the EPR.
AWB General Manager Commodities Mitch Morison said with the pool performing strongly and the sales program progressing well, the top-up would offer cash flow to growers at a useful time when many would be getting ready to harvest this year’s crop.
“Over half of this top-up will be available to growers with harvest loans, which means they will automatically receive or are able to draw on the funds as they choose to meet their individual needs,” Mr Morison said.
“The top-up will be between $14.70 and $42.88 a tonne, depending on the grade and product delivered into, with no costs to be deducted from the these payments.
“With this top-up our harvest finance clients will have received the vast majority of the estimated pool return, so this will be the last top-up before the 2009/10 pools are finalised next year.”
For further information on AWB’s finance and pool payment options growers should contact their local Grain Marketer or contact the AWB Grower Service Centre on 1800 054 433.
AWB media contact: Ian Desborough 03 9209 2335 or 0418 853 881