Australia: Barley growers receive AU$20m for deliveries to 2005/2006 ABB extended pool
South Australian and Victorian barley growers will begin this week receiving fourth distribution payments for grain delivered to ABB Grain’s 2005/2006 extended pool and standard loan pool, according to ABB press release, February 22.
The gross value of the distribution will be AU$60/tonne for malting 1 barley and AU$8/tonne for feed 1 barley in South Australia and Victoria. The total value of the gross payments is approximately AU$20 million of which over AU$16 million are direct cash payments.
The payments represent around 26% of the estimated grower return (EGR) for malting barley, bringing the total advanced to 79%; for feed barley the payment is 5% of the EGR, bringing the total advanced to more than 96%.
The following will be factored into the deductions from the above payments: pro rata freight (malting only at 25%) and statutory levies (where applicable). Malting 3 barley payments in South Australia are subject to quality sliding scale adjustments on Sloop and Schooner which, on this distribution, will be 20% of the scale.
ABB executive manager – group marketing, Gary Spiel, said that the malting barley pool has been able to benefit from a deficit in world supply which ABB is looking to capitalise on once Chinese buying demand resumes following the Chinese New Year celebrations.
“With feed there is only a small amount of grain remaining to be fully executed and this is reflected in the fact that growers will have now received the vast majority of the estimated return,” he said.
Remaining equity in the 2005/2006 pool equates to approximately AU$7/tonne for feed 1 and AU$47/tonne for malting 1. The final distribution for the 2005/2006 barley standard loan and extended pools is scheduled for June 2007.
Growers who have chosen the extended pool payment option will receive their distribution as a direct payment. The GST component is 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. Growers who selected the standard pool payment option will have their distribution used to reduce the loan provided at harvest, with growers directly receiving the GST component.
Regresar
E-malt.com, la fuente de información global para los profesionales de la industria cervecera y de malteado. Los boletines quincenales de E-malt.com incluyen las últimas noticias de la industria, estadísticas en gráficos y tablas, precios mundiales de cebada y malta, y otra información relevante. Haga clic aquí para obtener acceso completo a E-malt.com. Si usted es un cliente de Castle Malting, puede obtener acceso gratuito al sitio web y publicaciones de E-malt.com. Contáctenos para obtener más información en marketing@castlemalting.com.
