MELBOURNE, AUSTRALIA — The Australian Wheat Board (AWB) on Aug. 30 launched its inaugural soybean production program to encourage Australian farmers in Victoria, NSW and QLD to grow soybeans.
“For the first time AWB is offering a soybean production program to assist farmers in growing soybeans,” said AWB’s Australian Specialty Business Manager Josh Gordon. “Because of increasing demand and the agronomic advantages soybeans provide we encourage farmers to consider this opportunity.
“Australia is a significant importer of soybean meal and last year over 560,000 tonnes of soybean meal was imported for use in domestic feed rations.
“AWB is providing Australian farmers the opportunity to supply the strong domestic demand for soybean meal and oil through its production program. AWB is supporting farmers to grow soybeans by providing a seed cost rebate on contracted hectares as well as assisting them to manage price and production risk.
“We are in the ideal position to offer this unique marketing opportunity for soybeans which will be processed at Cargill crush plants and the Cargill vegetable oil refinery in Australia. In addition to the selling opportunities, farmers are discovering the agronomic benefits of planting soybeans.
The AWB soybean production program provides the following benefits to farmers:
• A A$10 hectare seed cost rebate on any approved varieties of soybean seed purchased;
• The comfort of a known price with no production risk on the first 0.5 tonne per hectare a farmer produces;
• Opportunity to price soybeans for up to three months after planting;
• Ease of delivery at harvest with AWB ex-farm pricing and last load service when selling through AWB;
• On farm storage incentives to get the most out of on farm storage.