Australia: ABB Grain Ltd announced on October 11 that the 2004/05 Victorian No.1 barley pool offered by ABB Grain Ltd is due to close soon, and growers are being reminded to take out a contract now if they wish to participate in the pool. ABB executive manger grower services and accumulation Maggie Dowling said that growers had until October 25 to secure their place in the No.1 pool.

“The Vic No.1 barley pool was scheduled to close on October 15, however because of the weather conditions that have been experienced throughout the state some growers are now wary about signing up to a malting barley contract,” Ms Dowling said. “This is understandable as recent conditions, particularly in certain regions, have caused some damage to crops and as a result crop quality is a real uncertainty for growers.

“In light of this we have decided to extend the Vic No.1 pool, allowing extra time for potential crop recovery and to give growers time to get more of an indication of the quality of their barley.”

Ms Dowling said that while a harvest pool was expected to be opened after the No.1 pool’s closure, contracting into the No.1 pool gave growers the opportunity to achieve maximum benefits for their 2004/05 season barley. “As subsequent pools historically do not fare as well as the No.1 pool, this pool provides the greatest chance of benefiting from any market improvements over the life of the pool,” Ms Dowling said.

“Growers can take out a multigrade hectare-based contract for the No.1 pool only, so there’s no need to commit to an exact tonnage yet. This type of contract gives growers an extended period of time to lock in how many tonnes they expect to deliver from the hectares stipulated on the contract.” Growers with hectare-based contracts must declare their tonnage by October 29.

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