Australia: ABB’s grower indicator rate to rise

Following the Reserve Bank’s announcement earlier this week to raise the official cash rate by 0.25% to 7.00%, ABB Grain has announced it will increase its grower indicator rate by the same amount from February 13, according to ABB’s press release, February 6.

The new rate of 9.05% applies to growers who deliver, or have delivered, to ABB’s pools.

ABB’s grower indicator rate is competitive when compared to other lending sources.

06 February, 2008