Australia: ABB’s Victorian No.1 Pool now open for 2005/2006

ABB Grain Ltd has opened its Victorian No.1 Pool for the 2005/2006 season and is urging growers to secure their place in the pool before it closes on October 31, Australina Grain producer announced on 27 September.

The pool is targeted at growers seeking access to ABB’s premium malt markets, and wanting to make an early commitment by contracting into a pool option.

“By contracting with ABB early, growers can secure a place in our No.1 pool, giving them the greatest opportunity of capturing benefits from improvements in market conditions during the life of the pool,” ABB’s general manager – marketing, Nigel Officer, said.

“Early commitment of tonnage into this pool enables ABB to have a better idea of the volume of malting barley available in Victoria, and so ensures we can guarantee supply to our premium customers.”

Mr Officer said a contract was essential for all deliveries into the No.1 pool. Growers can choose to do multigrade contracts.

The pool closes on October 31, 2005 with delivery dates of grain possible up to and including January 31, 2006 when all Victorian No.1 contracts expire. No deliveries onto the contract would be accepted after this date.

The Victorian No.1 Pool offers four payment choices: traditional, standard, extended and deferred.

Hectare contracts are also available. Growers should contact their local ABB field officer or the Grain Marketing Help Line on 1800 018 205 for more specific information.

ABB has introduced fortnightly indicative pool prices. Harvest gross pool indicators released last week were A$192/tonne for malting barley No.1 in SA and Victoria, with a price of A$155/t indicated for feed 1 barley in both states. The Victorian No.1 pool is expected to pay a premium over these prices.

27 September, 2005