Grain Pool releases nominated estimated pool returns

Grain Pool has released its Nominated Estimated Pool Returns (NEPRs) for the 2009-10 season.

The NEPRs are the rates on which Grain Pool sets its advance payments, harvest loans and underwriting levels.

Grain Pool General Manager, Brian Mumme said that setting the NEPRs allows growers more certainty regarding cash flow and returns as they head into harvest.

The NEPR figures for the 2009-10 season are at a similar level to the Estimated Pool Returns (EPRs) that were in place for some time. The NEPRs mirror the significant decline in grain prices in recent months, compounded by the rally in the Australian dollar, said Mumme.

The NEPRs are only an estimate. The actual return won't be finalized until the pool's sales program is complete, Mumme said, adding there are a number of variables that affect price throughout the selling season.

He said the NEPR for APW2 wheat delivered to Grain Pool's Harvest Pool and Benchmark Pool is A$250 per tonne, and the harvest loan has been set at 80 percent of that.

The advance payment and underwriting level has been set at 70 percent.

For the main barley varieties, the NEPRs for malt barley range from A$210 per tonne for Vlamingh to A$235 for Stirling, with the advance payment and underwriting level set at 65 percent and the harvest loan at 75 percent. The NEPR for the canola Harvest Pool is A$470 per tonne, with underwriting at 65 percent, the advance payment at 70 percent and the loan percentage at 80 percent.

US$1 = A$1.07905 (Oct 21)