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AWB back in the export business
12 Sep 2008
AWB Australia and AWB Harvest Finance have been granted the right to export bulk wheat by the Wheat Export Authority. Thirteen companies are now registered with the WEA to export bulk wheat shipments from Australia. AWB said past problems including the Iraqi bribes scandal would affect its ability to attract customers. This week AWB cut is 2008/09 estimated pool returns by $15 per tonne in response to falling US wheat futures. AWB still faces lawsuits over the Iraqi bribes scandal, which breached the UN sanctions regime against Saddam Hussein’s Iraq government. AWB says those sanctions only applied to governments, not private companies.
The Australian Financial Review, 12/09/2008
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