ABB Pays $5 Premium For Baudin Barley

SYDNEY - Dec 9/04 - SNS -- ABB Grain will pay a A$5 per metric ton (MT) premium for No 1 grade malting quality deliveries of Baudin barley across the 2004-05 season in South Australia and Victoria.

"Prior to merging with ABB, AusBulk had agreed to provide a $5 MT loyalty premium for malting 1 quality Baudin to growers," said Executive manager accumulation, Maggie Dowling.

"While AusBulk's loyalty premiums have previously been provided to growers in the January following harvest, in light of the harvest conditions that have been experienced ABB has decided to bring the premium payment forward for Baudin."

Dowling said that growers who had already delivered malting 1 quality Baudin to ABB for cash would receive the additional $5 MT as soon as payment was possible, while cash and contract prices as of 7 December would have the $5 MT premium already factored in.

"Similarly, any deliveries into the ABB pool of malting 1 quality Baudin will receive a $5 MT premium. For growers who choose the Traditional or Standard payment options the $5 MT will be paid in their first payment-advance, while growers who choose the Extended payment option will receive the additional $5 MT over the course of their payments," she said.

"For growers who have already delivered Baudin to an ABB pool and selected either the Traditional or Standard payment options, an additional $5 MT will be provided as soon as possible.

"By providing this premium early we hope to assist growers by giving them valuable extra cash flow now rather than waiting until January. With Christmas just around the corner this is sure to come in handy!"