 | E-Malt.com News article: 4364
Australia: ABB Grain Ltd. announced on March 4 it will provide a March advance for growers who delivered barley to its Standard Pool and Traditional pool payment options on March 23 for the 2004/05 season pools.
ABB managing director Michael Iwaniw said that good early sales and a heavy shipping program since harvest has allowed ABB to provide growers with an advance of $25/t for malting barley and $15/t for feed barley. This will apply to all grades of barley.
“The pace of sales of 2004/05 season barley has been exceptionally good, and we are further advanced in our level of commitments this year compared to this time in previous years,” Mr Iwaniw said.
“We have seen strong demand for Australian feed barley despite competition from Black Sea countries in particular, and we have been able to make sales at good prices.
“There has also been strong demand for malting quality barley in the market, recognising the limited supply available, and we have been able to capitalise on this.”
For growers who delivered to the Standard Pool, the advance increases the amount that was loaned to growers at harvest. The loan is optional and growers can choose not to receive the advance if they would prefer not to increase their harvest loan.
In the case of the Traditional Pool, the advance is a straight payment. For those who opt to not receive the advance, this payment will be deferred until August when the next payment is scheduled.
The only deductions to be made from the advance are GRDC and NRS levies, and VFF levies where applicable. Growers who wish to receive the advance do not need to do anything to receive this.
However, those growers who do not wish to receive the advance need to inform ABB by close of business 15 March, by calling ABB’s Grain Marketing Help Line on 1800 018 205.
If growers do not meet the cut-off date, and do not wish to keep the advance amount, the money can be returned to ABB by March 31 without attracting any interest. Contact the helpline for details.
05 March, 2005
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