AWB to make second 2009-10 wheat pool payment

AWB will make its second distribution of A$205 million FOB to wheat growers participating in its 2008-09 season wheat pools on July 8.

After deduction of supply chain costs, the net payment to growers will be A$176 million.

Stuart Richardson of AWB Australian Commodity Management said AWB's sales and marketing programme continues to be on track, with wheat being placed to both export and domestic customers.

"The 2008-09 Pool continues to target sales to key long term markets in Japan, South Korea, Indonesia, Malaysia, Sudan, Egypt, Yemen and the Pacific Island markets (New Zealand, Papua New Guinea, New Caledonia, Solomon Islands & Fiji)," Richardson said.

This second distribution represents around 24 percent of estimated pool equity, with some grades a little higher and others lower, he said.

Richardson said that since the first payment in April, AWB has paid out approximately 46 percent of the estimated pool equity or A$335 million directly to growers who participated in the AWB wheat pools.

Estimated returns for AWB's 2008-09 wheat pools are holding steady, with the EPR for APW at A$327 per tonne in the Western Pool and A$332 per tonne in the Eastern Pool.

US$1 = A$1.25786 (Jul 7)