Australia: ABB to raise its grower indicator rate by 0.25%

Following the Reserve Bank’s announcement last week to raise the official cash rate by 0.25% to 7.25%, ABB Grain has announced it will increase its grower indicator rate by 0.25%, in a press release, March 12.

ABB’s new grower indicator rate of 9.30% applies to growers who deliver, or have delivered, to its pools.

ABB believes its grower indicator rate is competitive when compared to other lending sources and still represents good funding cost given the current turbulence in financial markets.

14 March, 2008