A BRISBANE-based grain trader is the sixteenth company to be approved to export bulk wheat under the new deregulated system.
Wheat Exports Australia today announced that JK International Pty Ltd had been given export accreditation for the 2008-09 marketing year.
The move comes as growers face increasing weakness in world commodity markets, with prices generally coming off the boil.
Earlier this week, AWB slashed its estimated pool returns for 2008-09 by up to $40 a tonne as higher world wheat production puts downward pressure on world prices.
"While the Australian dollar has depreciated, it has not offset the recent substantial declines in US wheat futures and global wheat prices," AWB's Australia commodity division general manager Mitch Morison said.
