MELBOURNE, SYDNEY — The Australian Wheat Board (AWB) said on Jan. 16 that it will make its fourth financial distribution of A$130 million to pool participants in the AWB 2011-12 Wheat Pools. After deduction of supply chain costs, the net payment to farmers will be A$120 million.
AWB’s Richard Williams said, "This financial distribution represents a solid payment lifting cumulative equity payments to over 90% for all grades and accounts for approximately 98 per cent for freight, port and storage and handling costs. This payment demonstrates that we remain on track with our estimated payment schedule and pool marketing program."
AWB‘s Estimated Pool Returns (EPRs) for the 2011-12 AWB Wheat Pools remain unchanged following a pricing review.
The AWB’s 2011-12 EPRs remain unchanged, APW wheat remains at A$272 (FOB, excl GST) a tonne and ANW noodle wheat is A$281 (FOB, excl GST) a tonne in the WA Pool, APW is A$265 (FOB, excl GST) a tonne in the SA Pool and A$266 (FOB, excl GST) a tonne in the Eastern Pool.
"The majority of the 2011-12 AWB Wheat Pool has been sold and over the coming months we will execute the last of the pool wheat contracts," Williams said. "With the sales and shipping program drawing to conclusion we will then have the 2011/12 AWB Wheat Pools independently audited before finalization occurs. "We are aiming to finalisation the wheat pools in April 2013 if not before."