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AWB expecting record national wheat harvest
RWE Australian Business News, February 9, 2004
AWB Ltd today announced the 2003/04 national wheat harvest would be about 25 million tonnes, making it a record Australian crop.
Managing director Mr Andrew Lindberg said with harvest now all but complete, total production was set to eclipse the previous forecast range of 22 million to 24 million tonnes, largely as a result of record wheat production in WA.

Mr Lindberg said receivals into the 2003/04 AWB National Pool were expected to be about 19 million tonnes.
"While the vast majority of wheat is now in the system, we are still expecting some late deliveries to the National Pool from the trade and from grain stored on-farm," Mr Lindberg said.

"A 2003/04 crop of about 25 million tonnes represents an outstanding rebound from the previous drought-affected harvest of 9.7 million tonnes," he said.

Not all regions of the wheatbelt enjoyed a good season, with lingering drought limiting planting opportunities and crop yields in parts of northwest NSW and central Queensland.

Wheat crops in SA, Victoria and southern NSW were also affected by hot, dry conditions in early spring, which reduced some of the yields in those areas.

"The 2003/04 national crop was really bolstered by the record wheat harvest from Western Australia," Mr Lindberg noted.

"AWB's sales and marketing program for the new crop is now in full swing, and we are well-progressed, having posted some strong recent sales," he said.

Shares in AWB rose 3c to $4.53 this morning.
MGR Archive 9.2.2004
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Region Type Price  
Russia Rapan $ 700
USA Jupiter Rice $630
USA Calrose #1 $830
USA Calrose #1 Paddy $480
EU Prices Baldo €660
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