Australia: SA and Victorian barley growers share $3.4 million in pool ‘top up’ payments
Barley growers in South Australia and Victoria will share A$3.4 million from March 22 with the distribution of top up payments for 2006/2007 barley pools.
ABB Grain executive manager, group marketing, Gary Spiel, said the top up of A$60/tonne* for malting 1 and A$15/tonne* for feed will automatically be made from March 22 to growers who supported ABB’s traditional barley pools. It will be optional for growers who chose the standard (loan) pool.
The top up payments, when paid, will bring total payments for malting barley 1 to A$280/tonne (or 81% of the current estimated grower return) with the feed barley total to date being A$201/tonne – also, 81% of the current EGR.
Mr Spiel said ABB Grain had been able to maximise returns to growers, which partly offsets the impact of reduced receivals by farmers as a result of the most severe drought in South Australia for 25 years.
“Although the size of the pools this year was dramatically reduced because of the drought, which affected grain production across South Australia and Victoria, ABB Grain was able to maximise pool returns to growers by tapping into the higher domestic values for barley along the east coast,” he said.
“Flexibility within ABB Grain’s marketing program has allowed our company to respond to rapidly changing market conditions – enabling ABB to reflect competitive prices – by tapping into the domestic market and prioritising international sales to key premium markets.”
The top up payment is optional for the standard pool only. Growers who do not want the top up applied to their standard loan provided at harvest should advise ABB Grain as soon as possible on the Helpline 1800 018 205.
* The above top up payments will have research levies and VFF levies (where applicable) applied to them.
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