Barley Board Payout Announced

SYDNEY - Feb 6/04 - SNS -- The Australian Barley marketing board, ABB Grain Ltd., is making another distribution of funds realized from its 2002-03 marketing pools.

This is the fourth payment and totals A$80 per metric tons (MT) for malting 1 barley and $40 MT for feed 1 barley. This represents 23% of the estimated gross return for malting barley in the pool, taking the total paid to 77%. The feed distribution represents 16% of the estimated gross return for feed barley in the pool, taking the total paid to 86%.

A final distribution for the 2002-03 barley pool is expected to occur in May/June this year to finalize the pool.

Deductions to be made from the fourth distribution include research levies, while malting 3 barley payments are subject to quality sliding scale adjustments.

For growers who selected the Extended Pool payment option, you will receive the distribution as a payment, along with the GST component involved.

For those who selected the Standard (loan) Pool payment option, the distribution will be used to reduce your harvest loan. As a result, Standard Pool participants will not see the pool distribution in their bank account. However, as it is taxable income, you will receive the GST component to enable you to forward it to the ATO.

Growers who selected the Traditional Pool payment option are not affected by this distribution. The Traditional Pool final distribution will occur in May/June at the finalization of the 2002-03 pool.

All growers will receive paperwork providing details about their individual distribution once the distribution has been made.

The subscriber version of the article is available by Clicking here