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Australia Rail Rate IncreaseSYDNEY - Feb 24/03 - SNS -- Australian rail freight rates will increase roughly A$0.92 per metric ton (MT) on account of the impact a drought reduced crop has had on gross revenues from handling grain, according to the Australian Wheat Board (AWB). AWB WA manager Lisa Wilson said while AWB had managed to limit the increase with commercial insurance and carryover initiatives, AWB had previously flagged potential increases in 2002-03 rail freight rates at the beginning of the past harvest. "With the harvest falling below previous forecasts, and the fact that more growers are delivering directly to port, it means volumes of grain on rail have been lower than expected, and this is putting upward pressure on per tonne rail rates across the state," said Wilson. The subscriber version of the article is available by Clicking here
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