Australia has sold several million tonnes of the current year's estimated 20-22 million tonne wheat crop on top of big deals already struck with China and Iraq, monopoly exporter AWB Ltd said on Wednesday. "We're pretty pleased with where we are (with sales of the new crop). We've got commitments for several million tonnes for the 04/05 crop," Managing Director Andrew Lindberg told Reuters in an interview accompanying annual results.
AWB has already announced new sales of 2.5 million tonnes to China and 1 million tonnes to Iraq, partly from the last 2003/04 crop and partly from the new crop 2004/05, which is now being harvested.
Lindberg was speaking after AWB announced a 121 percent rise in net profit to A$96.86 million ($76.27 million) for the year ended September 30 thanks to a record harvest, recovery from drought, and a full year's contribution by rural services group Landmark.
Exports of over 19 million tonnes in 2003/04 went to the main markets of China, Egypt, Indonesia, Iraq, Japan and South Korea.
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