About Us > Media Centre > Media Releases/ASX Announcements > Media releases 2002 > Media releases July 2002 > National's first canola swap sold in WA. - 2 July
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National's first canola swap sold in WA. - 2 July 2002
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The first canola swap sold in Australia by the National Australia Bank has been transacted in WA. The canola swap will guarantee the grower a fixed price for the canola in Australian or Canadian dollars, thereby managing the majority of the producer's commodity price risk.
The National's over-the-counter swap product has no exchange traded brokerage or margin calls. It enables the producer to keep the physical delivery of canola and basis commitments separate from canola price risk management.
The National's Regional Agribusiness Manager for the Central Wheatbelt, Mark Metternick-Jones said that the canola swap was one of the products among the National's Agribusiness Price Risk Management Solutions. These are a range of hedging products, uniquely tailored to assist producers, merchants and processors manage their exposure to soft commodity price fluctuations.
The National's Agribusiness Price Risk Management Solutions offer producers, merchants and processors of wheat, wool, canola, cotton, sugar and corn (sorghum) an alternative to the traditional means of mitigating commodity price risk Mr Metternick-Jones said.
For more information, customers should call the National on 13 11 16 or visit Agribusiness
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