CBH Grain delivers more than $94 million to WA growers

by World Grain Staff
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PERTH, AUSTRALIA — CBH Grain announced this week that it has delivered a total of more than $94 million in distribution payments to all growers who participated in its 2009-10 wheat pools.

The payment was deposited into growers’ bank accounts, or against outstanding loan accounts, on Oct. 8 and was delivered to all 2009-10 wheat pool participants who selected the Distribution, Harvest Loan or Flexi Loan payment options.

CBH Grain’s Head of Accumulation, Grant Thompson, said this marks the third distribution payment for CBH Grain’s 2009-10 wheat pools.

"Based on APW2 grade the third distribution payment for the 2009-10 Harvest Pool for Wheat was $55.76 per tonne," Thompson said. "This takes the cumulative percentage paid out to 62 percent of the pool’s Estimated Pool Return (EPR), which is currently sitting at $248 per tonne, based on APW2.

"This EPR has been insulated from the strengthening Australian Dollar due to the high degree of hedge cover that CBH Grain has had in place for some time.

Thompson said that not only is this payment a timely top-up for many growers, it is in line with the payment dates estimated in CBH Grain’s Budget Guide for pool payments.

"This demonstrates our commitment to ensuring growers have more certainty over when they can expect to receive pool payments," he said.

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