Emerald makes first 2010-11 pool payments

by World Grain Staff
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VICTORIA, AUSTRALIA — Independent grain marketing company Emerald Group Australia announced on April 13 that it had paid the first distribution for its 2010-11 national pools.

Emerald’s Managing Director Mick Cattanach said that the marketing programs for all pools were well under way with good volumes of domestic and export sales already executed across the country.

“Our measured marketing program for the national pools has seen us execute several shipments early this year to key destinations such as Korea, Japan, Philippines and Indonesia,” said Cattanach. “For wheat and barley, our estimated pool returns and distributions remain consistent with our preharvest forecasts and have resulted in a 25% distribution. Good progress has already been made with the export program which we expect to continue into the next quarter.”

“Our canola marketing program has also progressed well and, despite being impacted by a stronger Australian dollar, is benefiting from the recent rally in global oilseeds and is also paying a 25% distribution,” said Cattanach.

Second distribution payments for the 2010-11 pool are scheduled for early to mid July.
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