News last update:6 Aug 2012

Aussie wheat traders worry about exports

With the start of deregulation for bagged and container wheat just over a week away, Australian wheat growers are being warned about the difficulties of trading in the export market.

The Wheat Export Authority and industry believe around 4 million tonnes of wheat is likely to come up for export once trading gets underway from August 27. And while most are enthusiastic about the new trading opportunities, some are worried that inexperienced growers could lose out.

Packer and trader Jim Riordan says disputes over international contracts can get expensive. "Very costly ... in the tens of thousands of dollars in some cases, if they get something wrong," he said. "Initially I will say that there will be people who will give it a go but find that the economies of scale will put them off, and the risk involved too.

Related website:
Wheat Export Authority

Source: abc.net.au

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