Old Crop Pool Steady, New Crop Down

DONALD - May 27/02 - STAT -- A strengthening Australian dollar has had no immediate impact on the projected returns from the Australian Wheat Board's 2001-02 National Pool, but projected returns for the 2002-03 pool were reduced.

AWB National Pool General Manager Sarah Scales said the 2002-03 Pool estimate had been reduced to between A$205 and$215 per metric ton (MT) for APW and between $280 and $290 MT for ADR1.

Scales said as well as the strengthening Australian currency, AWB continued to face a tough environment in the international market.

"Australian wheat is already facing strong competition in world wheat markets, but the impact of that was compounded by the European Union decision to resort to subsidies again for the first time in more than twelve months," Scales said.

Scales said during the past fortnight, the DU had announced the provision of an export subsidy of EU5 MT, which has weighed on futures markets.

   Australian Wheat Board Estimated 2001-02 No 1 Pool Returns
                     (A$ per metric ton)
Grade and Base Rate                      Pool Return     Change
APH (13% protein 5% screenings)            $261.00      Unchanged
AH (11.5% protein 5% screenings)           $248.00      Unchanged
APW (10% protein 5% screenings)            $239.00      Unchanged
APWT (10% protein 5% screenings)           $243.00      Unchanged
ASW (10% protein 5% screenings)            $233.00      Unchanged
ASWN (10.5% protein 5% screenings)         $260.00      Unchanged
AUH (11.5% protein 5% screenings)          $244.00      Unchanged
ADR1 (13% protein 5% screenings)           $324.00      Unchanged
ADR2 (11.5% protein 5% screenings)         $295.50      Unchanged
ADR3 (10% protein 5% screenings)           $278.00      Unchanged
ADR4 (Flat protein and screenings)         $240.00      Unchanged
Soft (8.5% protein 5% screenings)          $259.50      Unchanged
AGP (10% protein 5% screenings)            $227.00      Unchanged
GUW (10% protein 5% screenings)            $190.00      Unchanged
SUW (10% protein 5% screenings)            $195.00      Unchanged
Feed (Flat protein and screenings rate)    $170.00      Unchanged
Feed2 (Flat protein and screenings rate)   $168.00      Unchanged
Feed3 (Flat protein and screenings rate)   $165.00      Unchanged