Timbercorp’s horticultural and forestry projects have
not been affected by the devastating bushfires that have
devastated human lives and property last weekend.
Horticultural properties have experienced unprecedented
hot conditions over a sustained period of time. Managers
have used irrigation to minimise heat stress in plants
and crops. At this stage, no damage has been detected,
however, we will continue to monitor for adverse affects
from the heat.
No eucalypt plantations have been affected by fire,
aside from 170 hectares which was damaged in a small,
deliberately lit fire on 29 January. Affected growers in
the 1999 Eucalypt project will be notified shortly.
Timbercorp Forestry will be continue to take
preventative measures, such as fire breaks, monitoring
water points.
The current irrigation season (July ’08 to June ’09)
allocations are as follows as of 15 February 2009:
Victorian Murray 35%
Victorian Goulbourn 30%
NSW Murray 95% (for high security licences – low
security allocation 9%)
NSW Murrumbidgee 95% (for high security licences – low
security allocation 21%)
SA Murray 18% (SA Govt. is assisting with temporary
water purchase costs)
The seasonal allocation
will be announced every fortnight and increased progressively depending on
inflow to storages.
Carry-over water
Carry-over water can be transferred from one season to the next on an irrigation
licence account. Water was carried into the current year and it is planned to
also save or purchase water to carry over into the 2009/2010 irrigation season.
This is an important risk management tool used by Timbercorp so that crops can
be irrigated as required even though the seasonal allocation might be at low
levels.
Temporary water trade
Currently prices for temporary water are significantly lower than at the same
time last year and the recent increases to low security allocations in NSW
should place additional significant amounts of water onto the temporary market,
hopefully reducing prices even further.
Rainfall
Rainfall in January has been well below average and combined with hot conditions
and the dryness of the catchments storage inflows remain relatively low.
Flooding in
Northern Australia
Heavy rain and flooding in
many regions of northern Queensland and Northern Territory have not caused
damage of any substance to Timbercorp’s projects in northern Australia.
The Timbercorp website at
www.timbercorp.com.au has a new section titled
‘Grower News’. This new resource seeks to keep our
grower and advisor network up to date with timely and
current project information. Information such as project
updates, upcoming distributions, projects currently
harvesting and any current news will be available.
Please take the time to visit the website on a frequent
basis.
Financial product advise given by Timbercorp Securities Limited (ABN 12
092 311 469) (AFSL No 235653) is general financial product advise in
relation to its own products and Projects only and does not take into
account any persons individual objectives, financial situation or needs.
Except to the extent that statutory liability cannot be excluded,
Timbercorp Securities Limited and its related entities, directors,
employees, and agents disclaim all liability (including liability to any
person by reason of negligence or negligent misstatement) for any
statements, opinions, information or matters (expressed or implied)
arising out of, contained in or derived from, or for any omissions from,
the information contained herein.
