November 12, 2008
West Australian grain company Cooperative Bulk Handling Ltd. shipped its first cargo of wheat from the 2008 crop under a deregulated export system that came into effect on July 1.
A 30,000 - tonne cargo left Geraldton Port on the weekend on the Bogasari Dua bound for Indonesian milling group Bogasari, CBH reported in a statement issued late Tuesday (November 11).
The company has been preparing a wheat export marketing program in advance of the harvest. Backed by its finance capacity, the shipment demonstrates growers have secure access to international markets, it said.
CBH is one of the 19 companies accredited under the new export arrangements, which replaced a long-standing export monopoly operated by AWB Ltd. (AWB.AU).
Western Australian typically accounts for almost 40 percent of the country's wheat output. Nearly all the grain produced in the state is available for export, potentially making it a major source for globally traded wheat.