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Western farmers shun private traders
11 Jan 2005
Managers of Western Australia’s Grain Pool say they have been unable to sell all the grain they expect to receive from farmers at an optimum price, because some farmers dithered over whether to direct their crop to Grain Pool or to one of the newly licenced independent grain traders. Grain Pool used to have a monopoly over grain exports from the state, but private traders can now handle 550,000 tonnes of the crop. Grain Pool say that traders and farmers had failed to use 40 per cent of this limit, and that growers would now direct their crops to its traditional export pools. The pool was likely to be millions of dollars worse off, because Grain Pool had not been able to allow for those extra volumes in its earlier foreign exchange and price hedging activities and in advance freight bookings.
West Australian, 11/01/05
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