October 4, 2010

GrainCorp opens 2010-11 harvest pools

This is the first season that GrainCorp has offered a chickpea pool. The company will offer harvest pools for growers in Queensland, New South Wales, Victoria, South Australia, and Western Australia.

The GrainCorp 2010-11 Harvest Pools will feature increments for protein, screenings, and moisture offered for wheat pools. Rapeseed pools will pay bonification on Australian Oilseeds Federation (AOF) standards.

In New South Wales, Queensland, and Victoria, GrainCorp uses the company's own export freight rates, not those set by the Grain Trade Australia (GTA). All pools will offer an early exit option, and are scheduled to be finalised by the end of December.

There are several flexible payment options offered, with transparent costs that allow growers to calculate their silo return with GrainCorp's online Pool Calculator. Wheat and Barley offer pools have five payment options, while Chickpea pools offer Harvest, Distribution, and Deferred payment options. Rapeseed pools offer Harvest and Deferred payment options.

GrainCorp will also be offering a new Harvest Plus wheat pool which features a 24-month pool term and the ability to spread income over three tax periods. The current GrainCorp Harvest Pool will receive an AUD20 (US$19.32) premium.