Grain Pool

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Grain Pool
FormerlyWheat Pool
Company typeAgricultural cooperative
IndustryGrain
Founded1922
DefunctNovember 2002
FateMerged with Co-operative Bulk Handling to form the CBH Group
HeadquartersWestern Australia

The Grain Pool, formerly the Wheat Pool, was an agricultural cooperative of wheat growers in Western Australia. Founded in 1922, it merged with Co-operative Bulk Handling to form the CBH Group in 2002.

History

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The Wheat Pool was formed in 1922.[1] A conference had been held by wheat growers in Perth in March 1922, where it was decided to consider the formation of the pool rather than depend on speculative trading. In June 1922, the chairman of the trustees announced that the state government would not introduce legislation to continue state pooling but that the new pool scheme would commence operating independently. The pool had sources adequate finance from the Commonwealth Bank to pay advances and had negotiated with pools in the eastern states to reduce competition.[2] Participants in the scheme were sent a circular by the pool trustees. The circular outlined details of chartering ships, delaying construction of bulk handling facilities in Fremantle, construction of holding sheds in other areas, negotiations with the Mill Owners Association and quashing rumours that contracts were not binding.[3]

For the 1923 harvest, the pool collected 9.75 million bushels of wheat.[4]

Over the course of the 1924–1925 harvest, the pool received over 14 million bushels with a return to growers of a little over 6s per bushel, not including rail freight.[5] In 1925 farmers claimed they had been given advice to store their grain and contributing to the pool later hoping the price would rise.[6]

The quantity of wheat collected the next season was only just over six million bushels; the 1926–1927 season resulted in 17.93 million bushels being collected by the pool.[7]

Following crop failures in India through 1928, the pool supplied over 14.25 million bushels to cover the short fall at prices.[8]

A record cargo of wheat for the port of Geraldton in 1930 was loaded by the Pool aboard the SS Avala; the vessel was loaded with 80,426 bags, a mass of about 6,550 long tons (6,655 t).[9]

In 1932, the state government was approached by the pool to confer upon the trustees sole acquiring rights of the land needed to set up bulk handling facilities. Initially the scheme was strongly opposed, and the bill introduced into the parliament was defeated as it was seen to grant a monopoly. In 1933, the bill was reintroduced after a two-season trial in the Wyalkatchem area. Premier of Western Australia Philip Collier, revealed that leases of land at 48 country railway sidings had been awarded to Cooperative Bulk Handling.[10]

By 1935 the pool had estimated a harvest of over 27 million bushels after good rains had been recorded in July; the estimates were later downgraded to 20 million after a dry spell prior to harvesting.[11]

The marketable harvest from the 1942–43 harvest collected by the pool was 18 million bushels. An early estimate of the following year's production was about 19 million bushels, of which 16.5 million was likely to be marketable.[12]

In 1962, the Wheat Pool was renamed the Grain Pool, reflecting its increasingly diverse portfolio of wheat, barley, oats, lupins and canola.[1][13] In November 2002, the Grain Pool merged with Co-operative Bulk Handling to form the CBH Group.[14][15][16][17]

References

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  1. ^ a b A hundred years of selling WA grain to the world CBH Group
  2. ^ "Co-operative wheat pool". The West Australian. Perth: National Library of Australia. 23 June 1922. p. 6. Retrieved 10 April 2013.
  3. ^ "Co-operative wheat pool". The West Australian. Perth: National Library of Australia. 8 December 1922. p. 7. Retrieved 10 April 2013.
  4. ^ "Co-operative wheat pool". The West Australian. Perth: National Library of Australia. 26 March 1923. p. 7. Retrieved 10 April 2013.
  5. ^ "The wheat pool". The West Australian. Perth: National Library of Australia. 14 August 1925. p. 9. Retrieved 11 April 2013.
  6. ^ "Wheat pool closure". Sunday Times. Perth: National Library of Australia. 26 April 1925. p. 7. Retrieved 12 April 2013.
  7. ^ "Trade and Finance". The West Australian. Perth: National Library of Australia. 26 October 1927. p. 11. Retrieved 11 April 2013.
  8. ^ "India buys wheat". The Daily News. Perth: National Library of Australia. 27 December 1928. p. 6. Retrieved 12 April 2013.
  9. ^ "A record cargo from Geraldton". The West Australian. Perth: National Library of Australia. 4 February 1930. p. 16. Retrieved 11 April 2013.
  10. ^ "Bulk Handling". The West Australian. Perth: National Library of Australia. 7 July 1933. p. 18. Retrieved 10 April 2013.
  11. ^ "Local and General". Albany Advertiser. Western Australia: National Library of Australia. 17 October 1935. p. 2. Retrieved 12 April 2013.
  12. ^ "Wheat Crops". The West Australian. Perth: National Library of Australia. 1 July 1943. p. 2. Retrieved 13 April 2013.
  13. ^ Grain Pool Act amendment Parliament of Western Australia 1 October 1962
  14. ^ State Grain Bodies to Merge Co-operative Bulk Handling 13 November 2001
  15. ^ Our history CBH Group
  16. ^ Acquirer: Grain Pool of Western Australia GPWA; Target: Co-operative Bulk Handling Ltd (Western Australia) Australian Competition & Consumer Commission 1 April 2002
  17. ^ 100 years of the Grain Pool of WA and CBH Group marketing WA grain to the world Farm Weekly 29 March 2022

Further reading

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Wheat Pool Act 1932