GrainCorp has made a final distribution of its 2010-11 pool, with growers to receive more than $31 million.
Pool finalisation highlights include APW1 returning $349 FOB Port Kembla per tonne, and feed grades, which constituted a large portion of last year’s harvest, performing demonstrably better than the cash market average for the year.
GrainCorp Pools Manager Stuart Clarke said, “The final GrainCorp Harvest 10/11 Feed Pool track equivalent return was $224.81/t, or ~$24/t above the average best daily cash bid of $200.79/t for FED1 for the Port Kembla port zone between 1 December 2010 and 16 December 20111.
“We are pleased to have been able to deliver this result to growers. Our strategy of selling direct to international customers in markets such as Vietnam, South Korea and the Philippines helped us to manage the volatile market conditions we saw in 2011.”
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