SPC Ardmona annouces further water assistance for drought-stricken growers in the goulburn valley

11 December 2006

SPC Ardmona today announced that it had secured a further 1,500 megalitres of water entitlements on the Goulburn system for allocation to its grower suppliers.

This initiative comes on top of the company’s recently announced $1.75 million water assistance package for growers.

This comprised interest and free loans, a water subsidy in fruit prices and an initial 1,000 megalitres of water entitlements.

Entitlements of water to irrigators on the Goulburn system remain at 23%, with little prospect of a material increase in the coming months. This will be the lowest entitlement in history.

With the most recent trading price of water now exceeding $860 per megalitre, SPC Ardmona, in recognising the extra costs water is placing on its grower suppliers, will make the additional 1,500 megalitres available at a price of $700. Payment will not be required until after the delivery of the 2007 fruit crop.

Growers are being advised of the additional water availability and are being asked to make applications in the next two weeks. Allocations of water entitlements will be made on the basis of fruit supplied to SPC Ardmona.

SPC Ardmona Managing Director, Mr Nigel Garrard, said “We are acutely aware of the issues caused by both the cost and availability of water to our grower suppliers.

“SPC Ardmona remains committed to doing its part to help our growers through what is a very difficult time.

“Interest free loans provided to growers to help with the purchase of water already exceed $1 million. We now have made 2,500 megalitres of water entitlements available to our growers at less than market prices.”

“We are putting our money where our mouth is.”

Media inquiries: Sally Loane, Director of Media and Public Affairs, Coca-Cola Amatil 02-9259 6797 or 0416 162 336

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