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EP Grains Interest Rates Down, Increase Harvest Cash Flow
Melbourne, 14 November 2008: Growers deliver to EP Grain Commodity pools will benefit from increased harvest cash flows and reduced interest rates – amongst the lowest currently on offer anywhere in the market.
A combination of strong forward sales and the securing of additional competitive funding lines has enabled EP Grain's Joint Venture partner, Emerald Group, to drop the interest rate on all harvest and flexible loans to 7.75 percent p.a. and increase payment rates on wheat pools up to 80 percent, which will benefit EP Grain pools.
Emerald Group Managing Director Mick Cattanach says Emerald has been able to increase the amount growers can draw down against wheat pool deliveries as a result of the combination of the strong forward sales position of the pools and additional funding lines recently confirmed.
“We have a very strong forward sales position in place for all of our pools, and as a result of this position and a marked drop in market volatility, Emerald is able to increase harvest payment cash flows to our customers” Mr Cattanach said. For full media release click here.
