Australia: ABB closes 2006/07 east coast barley pool
ABB Grain will close its east coast barley pool effective 5pm Australian Eastern Daylight Time (AEDT) Wednesday 20 December, 2006, according to ABB today press release.
The pool reflected the high value of Australian barley due to the widespread drought conditions that have affected crops across the nation.
ABB Grain’s pool manager, Jonathan Wilson, said despite the poor conditions and subsequent tight market, the pool had been well received by growers since its opening in October and it was closing to protect grower equity.
“We are pleased with the support we received from growers across Victoria, New South Wales and Queensland who delivered into the pool despite the challenging market conditions,” Mr Wilson said.
“The returns indicated the high value being placed on new season barley in Australia and the volatility of the domestic market.
“ABB is very experienced in offering easy to understand pooling options and is committed to offering reliable, highly competitive pooling alternatives.”
This domestic focused pool quotes the return at a port estimated silo return (ESR) level. The ESR’s equate to $319/t for malting barley and $280/t for feed barley after all costs, except statutory levies and location differentials have been deducted.
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