QSL achieved strong final pool results for the 2013 season, with all QSL-managed pools outperforming the average market benchmark. On a weighted average basis the pools outperformed the market benchmark by more than nine dollar per IPS tonne.
It was a strong result in what was a year of surplus sugar on the world market and a strong Australia dollar. QSL-managed pools outperformed the average market benchmark by between $6.46 and $48.10 net per IPS tonne. The average market benchmark assumes pricing is conducted following an average basis without a market view being exercised from the pricing declaration date (28 February 2012 for all pools except the Forward Season Pool) over the life of the pool and should achieve the average price of the market.
The net price per pool was a combination of the Gross Price and a Shared Pool element. The Gross Price is the market price for sugar and is derived from the ICE 11 and ICE16 (US) Futures Markets. The Shared Pool is the mechanism by which growers and millers share in the premiums obtained by QSL and earnings from other-origin sugar and other business development activities, as well as the costs incurred to market sugar, operate QSL and fund industry-good initiatives.