CBH Grain Head of Marketing Tom Puddy said the final estimated pool return (EPR) for the Canola Harvest Pool was A$656.28, which was A$116 above the opening EPR at harvest of A$540.
"We are committed to providing growers with realistic and competitive pool estimates which are a genuine reflection of the market,” Puddy said.
Puddy indicated that the EPR has been boosted by an exhaustive European selling program on the back of the Renewable Energy Directive (RED), a program which has lead to strong demand for WA canola.
“This pool return is the direct result of efforts by the CBH Grain team to pro-actively market WA canola into premium markets," he said.
"CBH Grain was the first WA marketer to gain accreditation to supply canola to Europe under the International Sustainability and Carbon Certification (ISCC) program. This cleared a significant market access hurdle, forcing others in the market here to follow suit.
“The Pool Management team was also able to capitalize on this hard work by prudently managing the pool to close at a five year high.”
Puddy also stressed the importance of the CBH Group’s storage and handling network.
“The ability of CBH Operations to effectively segregate non-GM canola has allowed marketers to sell into the premium European market with confidence,” he said.