Australia: ABB Grain Ltd reassesses the grower indicator rate

In the wake of this week’s increase in the Reserve Bank’s official cash rate of 0.25%, ABB Grain Ltd will raise its grower indicator rate by a similar amount, ABB officials confirmed on May 05.

The rate will rise from the current 7.55%, to 7.8% and apply to all barley pools effective from May 12, 2006.

The widely anticipated increase in the Reserve Bank’s cash rate, announced on May 3, was in response to a continuing strong economy and intended to contain inflationary pressure.

ABB last adjusted its grower indicator rate on February 1 when it cut the rate by 0.15%.

ABB still believes its grower indicator rate is competitive with other lending sources because growers are not required to establish any costly security arrangements when borrowing from ABB.

E-malt.com, the global information source for the brewing and malting industry professionals. The bi-weekly E-malt.com Newsletters feature latest industry news, statistics in graphs and tables, world barley and malt prices, and other relevant information. Click here to get full access to E-malt.com. If you are a Castle Malting client, you can get free access to E-malt.com website and publications. Contact us for more information at marketing@castlemalting.com .