AWB increases wheat pool returns

AWB has revised the estimated pool returns for its 2008/09 season wheat pools, increasing most grades by A$3 (US$2.65) per tonne.

Final payments to growers will also be paid in March 2010, a month ahead of schedule.

Estimated returns for AWB's 2008-09 wheat pools for benchmark grade APW are now A$328 (US$289.6) a tonne in the Western Pool and A$333 (US$294) a tonne in the Eastern Pool.

AWB's 2008-09 season wheat pools received 2.7 million tonnes, mainly from growers in Western Australia and South Australia.

AWB General Manager Commodities Mitch Morison said the benefits of AWB's solid marketing and shipping programme for 2008-09 season wheat were showing through with both the improvement in equities and early finalisation.

''The majority of remaining equity for these pools will be paid on schedule in our January distribution, after which our external auditors will undertake a review of pool accounts, before final distribution in March,'' said Morison.