AWB will pay $110 million to pool participants in the 2011/12 wheat pools.
The company announced this afternoon it will be making its first distribution of $150 million (FOB, GST excl) overnight.
AWB's Richard Williams said the 2011/12 wheat pools pricing and sales program was progressing well in a challenging market due to large Australian wheat stocks and good weather conditions in the Northern Hemisphere.
"The large Australia wheat crop is being exporting at record pace with good demand for Australian wheat however prices are being pressured in some areas," Mr Williams said.
The first distribution represents between 22–27 per cent of the current estimated pool returns across all pools with 100 per cent of early commitment premiums, 24 per cent of quality payments, 100 per cent of receival fees and 28 per cent of estimated upcountry, freight and port costs applied to this payment.
"This distribution is reflective of the level of physical shipping from our pools with the majority of pooled wheat sold making its way to customers in Africa, Middle East and throughout the Asian and pacific regions," Mr Williams said.
The majority of AWB 2011/12 season EPRs have remained unchanged however some higher protein grades have decrease $4-$9 a tonne due to a large supply of Australian protein wheat and ideal growing conditions in the United States which could result in record yields.
AWB's 2011/12 EPRs for APW wheat remains at $263 a tonne and ANW noodle wheat is $276 a tonne in the WA Pool, APW is $257 a tonne in the SA Pool and $258 a tonne in the Eastern Pool (FOB, excl GST).
"In the past month we have made key sales to Sudan, Thailand, UAE, Qatar and Yemen of various grades of milling and feed wheat," Mr Williams said.