TeachMeFinance.com - explain Australian Wheat Board (AWB)
Australian Wheat Board (AWB) The term 'Australian Wheat Board (AWB) ' as it applies to the area of agriculture can be defined as ' A statutory marketing agency, which handles Australia’s domestic marketing of wheat and export marketings of wheat and flour. Under the Australian system, farmers take their wheat to elevators designated as official handling agents for the AWB. Following delivery, farmers receive an initial payment, then over a period of time (which can be over a year) they receive additional payments until the full price has been paid. AWB becomes a grower-owned and controlled company operating under Australian corporation laws on July 1, 1999'.
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