CBH Pool Payment Updates

CBH has reviewed current equity in each 21/22 season pool and decided to adjust payment percentages to better reflect actual sale programme/value achieved.

Please note payment percentages shown are cumulative from the first payments and are based on current pool equity.

A summary of the updates is as follows:

Payment percentages shown are cumulative and are based on current pool equity. For more information, please refer to the Pool Calculator

Harvest Pool 1 - Wheat

 

Harvest Pool 2 - Wheat

 

The wheat pools have progressed in sales more quickly than anticipated due to customers locking in more forward contracts in fear of further price increase as an impact from the Russian invasion of Ukraine. With wheat prices rising higher and the pools committing to better sale values, we have decided to make top-up payments for Advance pay-type growers in order to bring the total payment percentage in line with other pay types.

The No2 pool has larger unsold position relative to the No1 pool, hence lower payment percentages.

 

Harvest Pool 1 - Barley

 

Harvest Pool 2 - Barley

 

The barley pools have also progressed in sales more quickly than anticipated with barley prices increasing sharply during the past few months. Current equity in the No1 pool has become larger compared to the estimated equity at Harvest, leading to the decision to make a top-up payment for the Advance pay type to bring the total payment percentage in line with other pay types.

The No2 pool has larger unsold position relative to the No1 pool, hence lower payment percentages.

 

Harvest Pool 1 - Canola

 

Harvest Pool 2 - Canola

 

With a significant uplift in canola prices and pool EPRs since Harvest, both the No1 pool and the No2 pool are able to make additional payments for Advance pay-type growers, to bring their total pool payments in line with growers in other pay types.

 

Harvest Pool 1 - Oats

 

Harvest Pool 2 - Oats

 

Oat markets have been quiet this season with less customer interests. The No1 pool managed to commit its stocks to a reasonable volume of sales, with approximately half of them to be executed in the back half of the year. The No2 pool selling program is on a slower side with lower customer demands and a challenge in container capacity constraints. All committed sales in the No2 pool are for execution at the second half of the year, leading to the decrease in the Deferred payment percentage in July.

 

Harvest Pool 1 - Lupins

 

Harvest Pool 2 - Lupins

 

Consistent with other products, the No1 Lupin pool has sold a significant portion of its stocks early in the season when there were a lot of international demands. The No2 pool, with its later start, has a shorter window to capture sales before the demands started slowing down. Due to a forward selling program with customers booking sales many months earlier, all sales in the No2 pool are for execution at the second half of the year.  This results in the decrease in the Deferred payment percentage, in line with payment percentages in other pay types.