Australia: South Australia and Victorian barley growers share in ‘top up’ pool payments

Barley growers in South Australia and Victoria will from April 3 share in the distribution of top up payments for 2007/2008 barley harvest pools, ABB reported in a press release, April 3.

ABB Grain general manager – marketing, Peter Jones, said the top up of $20/tonne* for malting 1 and $13/tonne* for feed 1 would automatically be made to growers who supported ABB’s traditional and standard barley harvest pools. It will be optional for growers who chose the standard (loan) pool.

The top up payments, when paid, will bring total payments for malting barley 1 to $345/tonne (or 92% of the current estimated grower return) with the feed barley total to date being $275/tonne or 88% of the current EGR.

Mr Jones said the pools were still a valuable option for growers in a deregulated market as they were able to take advantage of export and domestic demand.

“Although the size of the pools this year was reduced because of the drought, which affected grain production across South Australia and Victoria, ABB Grain was able to maximise pool returns to growers by also tapping into higher domestic values,” he said.

“Flexibility within ABB Grain’s marketing program allowed our company to respond to rapidly changing market conditions due to the deregulation of barley exports in South Australia.”

The top up payment is optional for the standard pool only. Growers who do not want the top up applied to their standard loan provided at harvest should advise ABB Grain as soon as possible.

04 April, 2008