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AWB pays Australian wheat growers $150m distribution
RWE Australian Business News
The AWB National Pool will this week make a $150 million (net GST exclusive) second financial distribution payment to Australian wheat growers who delivered to the 2006/07 AWB National Pool.

General Manager National Pool David Johnson said on a FOB basis, $172 million is being paid out in the second distribution, of which 2006/07 National Pool participants will net $150 million (GST exclusive) after adjustment for site-to-sea costs.

For the benchmark APW grade, with a current estimated pool return of $234.50/t (FOB, GST exclusive), the base rate payment for this distribution is $53.81/t and for ASWN with an estimated pool return of $239.50/t (FOB, GST exclusive), the base rate payment for this distribution will be $46.50/t.

"While there is about 3.2 million tonnes in the 2006/07 National Pool due to the drought, we have maintained our focus on key long-term customers," Mr Johnson said.

"We are continuing to target key long-term customers in Japan, South Korea, Indonesia, Sudan, Malaysia and Pacific markets," he added.

AWB National Pool distributions are calculated using sales receipts and associated operating expenses incurred to-date.

The amount paid at each distribution is calculated at the base rate quality for each pay grade, and is adjusted for a proportion of AWB Golden Rewards scales and supply chain costs such as storage, handling and freight.

With this second distribution, an average of 43.4% of AWB Golden Rewards scales, and 60% of freight, port and upcountry fees are to be paid.

For growers who selected the AWB Harvest Loan option this season, the distribution payment will be offset against their loan amount.

For growers who adopted the distribution option, the instalment will be made this week.

Statements will be mailed to growers this week after payments appear in their bank account.

The third distribution for the 2006/07 National Pool will be in October 2007.

The AWB National Pool will make a sixth financial distribution in the week commencing 16th July 2007 for Australian wheat growers who participated in the 2005/06 National Pools.

This distribution will ensure that the majority of 2005/06 EPRs will be paid out to Pool participants.
MGR Archive 3.7.2007
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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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