Australia: ABB Grain Ltd. will make its first distribution for 2004/05 barley pools

ABB Grain Ltd. announced on April 19 will make its first distribution on April 27 to growers who delivered grain to the company’s 2004/05 season Standard and Extended barley pool payment options.

This is the first of five distributions to be made of revenue received from sales of barley in last harvest’s pools. The gross value of the distribution will be $40/t for malting 1 barley and $60/t for feed 1 barley.

The distribution figures represent about 20% of the estimated gross return for malting barley from the pool, and about 40% of the estimated gross return for feed barley.

Deductions to be made from the distributions include bulk handling charges ($10/t for malting, $8/t for feed), proportional freight (20% for malting, 40% for feed), GRDC and NRS levies, and SAFF and SAGITF levies. Malting 3 barley distributions are also subject to 20% of the sliding scale adjustments.

Growers who have chosen the Extended Pool payment option will receive the distribution as a direct payment. The GST component will be provided with the payment.

For growers in the Extended Pool option who have activated a line-of-credit, the distribution for the portion of their equity which the line-of credit has been applied to, will be used to repay the loan provided.

For growers who have selected the Standard Pool payment option, the distribution will be used to reduce the loan that was provided at harvest, with growers directly receiving the GST component.

The April distribution does not affect growers who selected the Traditional Pool payment option. The next Traditional Pool payment is scheduled to be made in August this year.

The next distribution for the Standard and Extended Pool for 2004/05 pooled barley is scheduled for July this year.

The current gross barley pool indicators for 2004/05 are $210-$220 for malting 1 barley ($5/t premium for Sloop and Baudin) and $150-$160/t for feed 1 barley for the SA No.1 Pool, and $140-$150/t for feed 1 for the SA No.2 Pool.

The current gross barley pool indicators for 2004/05 are $210-$220 for malting 1 barley ($5/t premium for Sloop) and $165-$175/t for feed 1 barley for the Vic No.1 Pool, and $208-$218 for malting 1 barley ($5/t premium for Sloop) and $160-$170/t for feed 1 barley for the No.2 Pool

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