Australia Sees Strong 2002-02 Wheat Pool

CANBERRA - Mar 5/02 - STAT -- The Australian Wheat Board (AWBI) believes its growers are looking at return between A$220 and $240 per metric ton (MT) for 10% protein Australian Premium White wheat delivered under the 2002-02 marketing pool.

Speaking at the ABARE Outlook Conference here AWB Limited Chief Executive Andrew Lindberg cautioned this is only an estimate, but said if it could be achieved it would be "a good result for wheat growers, and the wheat industry. . . "

"Regarding durum, AWB estimates growers will receive between $295 - $305 MT (FOB, GST exclusive) for DR1 for the 2002-2003 harvest. This estimate is lower than last year's due to expectations of increased production in Canada, the US and DU.

"Looking ahead to the coming marketing year, we expect world wheat prices to come under more pressure, but with the single desk system in place, we are confident of being able to maximize returns for Australian wheat within what will become a more competitive trading environment," Lindberg said.

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