* Growers to receive up to $12.75 per tonne to offset fees this harvest
* Rebate program enhanced following grower feedback
* New rebates portal to provide easier access for growers to view rebates
The CBH Group is pleased to announce growers who delivered and sold grain to the co-operative in 2016-17 will be rewarded with a rebate of up to $12.75 a tonne, the highest ever paid in the co-operative’s history.
The record rebate will significantly reduce growers’ storage and handling costs for the 2017-18 harvest. This is over and above the funding requirements for the delivery of CBH’s Network Strategy over the next few years.
CBH Chief Financial Officer Ed Kalajzic said as a co-operative, the Group’s sole focus is to create and return value to growers, and enable them to compete in the global market.
“The co-operative business model, our strong financial position and disciplined capital management policy means that any surpluses to our required capital can be returned straight back to growers’ bottom line,” Mr Kalajzic said.
“We’re proud to be able to increase our support for growers to a record amount this season – an outcome that was in part achieved by a record harvest last season and our continued drive to find and implement efficiencies throughout the supply chain.
“Since we introduced the rebate program in 2009, CBH has returned a total of $333 million to growers.”
The total $12.75 comprises a $6.25 per tonne rebate from CBH’s Marketing and Trading division, a $6.00 per tonne rebate from Operations and $0.50 Investments rebate.
“Our three key divisions performed well this past year. Our Marketing and Trading division performed exceptionally well despite tough trading conditions, returning $50 million of rebates, while Investments returned $8.3 million,” Mr Kalajzic said.
“Meanwhile, the record harvest in 2016-17 doubled the rebate return from Operations to $99 million. Not only are we in a good position to fund the Network ...
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