September 26, 2008

 

Australia's ABB Grain to lift storage, handling fees

 

 

Australia's ABB Grain Ltd (ABB.AU) to increase storage and handling charges for upcountry storage and coastal export terminal network by 6 percent - 10 percent.

 

A spokesman said that the lift takes place after an annual review of its fee structure. It will apply for a harvest of winter grains that gets underway in October that is to be completed by year end. The fees cover elevation charges for grain processing and storage.

 

The new fee structure has been outlined at a series of grower meetings through south Australian states over the past several weeks, where the grain marketing options offered by the company were also explained.

 

He said ABB Grains need to make a suitable financial return on its investment in its network, which includes 111 country sites in southern Australia, two in Victoria state and seven shipping terminals, to enable continuation of investment and returns for shareholders of whom many are growers. The rise exceeds the general rate of inflation because AA Grain costs have risen beyond inflation.
   

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