Australia: ABB Grain Ltd announced on October 26 it would make its third distribution to growers who delivered to the company’s 2003/04 barley pools on 27 October 2004, providing gross amounts of $38/t for malting 1 barley and $41/t for feed 1 barley.
Deductions to be made from the distribution include bulk handling ($3/t for all grades, both SA and Vic), GRDC and NRS levies, and VFF levies where applicable. The remaining freight charges (50% for malting barley, 40% for feed barley) will also be deducted, and malting barley is subject to 20% of the quality sliding scale adjustments (sliding scale applies to the No.1 and No.2 pools in South Australia and the No.1 pool in Victoria).
The distribution is relevant to growers who selected the Extended Pool and Standard Pool payment options only – it is not relevant to those who selected the Traditional Pool option.
Growers who selected the Extended Pool will receive the distribution as a straight payment. For growers who activated the Line of Credit facility attached the Extended Pool option, the distribution will be used to reduce the loan on the pool deliveries to which the Line of Credit has been linked.
For growers who selected the Standard Pool the distribution will be used to reduce the lent amount that has been provided. Growers will receive the GST amount in the bank and will receive a statement recording the distribution as a payment against the loan.
The next distribution for barley delivered to the 2003/04 Extended and Standard pools is scheduled for February 2005. For barley delivered to the 2003/04 Traditional pool, the final distribution is scheduled for June 2005.
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