Australia: ABB has increased its barley estimate for 2006/2007

ABB Grain Ltd has reviewed its gross barley pool indicators for 2006/2007 and has increased by A$10/tonne its South Australian estimate for current season malting barley and also raised its feed barley estimate by A$5/t in SA, according to ABB’s press room, January 17.

ABB’s executive manager group marketing, Gary Spiel, said that continuing strong world demand, creating a “global tightness” for premium quality barley – such as that grown in South Australia – had prompted the latest increases in estimates.

“These increases in estimates demonstrate the value of barley pools, showing they’re still a viable option for growers even in a season such as recently experienced,” Mr Spiel said. “It’s a credit to growers that despite the worst drought in at least a quarter of a century, the quality of the grain that was reaped was generally good.”

Mr Spiel said that international demand for quality malting barley remained strong and Australia was well placed to take advantage of the current world supply and demand profile. “There is more potential upside in malting barley, although the feed market has been stabilising”

Revised gross estimates for 2006/2007 season barley are now:

South Australian pools for 2006/2007 season are A$338/tonne for No.1 malting and A$246/tonne for No.1 feed.

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