December 11, 2006

Graincorp seeks wheat export permits

Australia's Graincorp Limited hopes for a prompt response from the Federal Government to its application seeking permits to export wheat next year.

The company will then export about 230,000 tonnes of wheat to Japan, Europe, Indonesia and Malaysia.

It still remains unclear whether these were the first export applications since McGauran acquired veto power for wheat exports, an interim measure while the government discuses the future of the AWB following Cole inquiry.

Following approval, Grain Corp would be able to offer growers a US$15-per tonne premium on the current AWB national pool estimate.

The permits would help the firm to offer higher net returns to Australian growers and also enable the country to continue to supply long standing important international customers, said managing director Tom Keene.