Dear CBH,
The remaining equity for the 2024/25 Lupins Harvest Pool has now been distributed to all participants.
In the Geraldton Zone, final equity values were $518.16 per tonne for LUP1, representing returns of $51.43 per tonne above the average cash price for the same marketing period.
This season’s lupin receivals were 21 per cent below the five-year average. Trading margins were tight at harvest due to strong market competition. Contracting for the pool as a result was initially quiet but nominations for the pool grew in January. The later nominations made it challenging to participate in early‑season sales before contracting.
Our Marketing & Trading division’s Structured Products team leveraged key opportunities to deliver these strong results by:
- Capturing solid customer demand in key markets
- Strategically timing with some early season sales when prices where high; equally late season sales captured higher values than new season trades when stock was tight
- Securing advantageous foreign exchange levels in April as the AUD weakened.
