Emerald final lupin payment $370/t

STAFF REPORTERThe West Australian

Emerald Grain has made the final payment to growers in its 2012/13 lupin pool at $370 a tonne.

Emerald's WA grain manager Dick McCagh said the pool performed very well against the cash market.

Mr McCagh said Emerald has been running lupin pools over a number of seasons.

"We made a decision for the 12/13 season to respond to an increase in demand from domestic customers," he said. "Emerald felt this was in the best interest of all pool participants.

"On top of a great pool return we have moved payments forward from December to August to move money into growers' hands faster."

Early in the 2012 season the good lupin growing areas of the State came under production constraints, Mr McCagh said.

"This along with strong domestic pricing saw a demand that drove Cash (FIS) pricing and put pressure on FOB markets to compete at similar levels. Growers committed to selling cash and also utilised on farm storage to capitalise. "

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