EU: Most maltsters are sold out, and brewers restrict their old crop purchases to an absolute minimum
The malt campaign of 2006/07 continues slowly and painfully, according to market analysts. Prices well above EUR 400,- ex works are at least EUR 50,- higher than malt offers for crop 2007. Most maltsters are sold out, and brewers restrict their old crop purchases to an absolute minimum. Activity in new crop malt is large. Domestic brewers are nervous, do not want to repeat last year’s mistakes, and have covered already 25 – 30 % of their 2008 demand.
Prices for 2rs malt, delivery in 2008, CPT breweries, have risen from EUR 365,- to 375,-/380,- in recent weeks. Export business has accelerated as well in February, prices reflecting levels of domestic markets, EUR 375,- FOB in bulk in vessel, ER 390,-/395,- FOB in bulk in container. Business has been reported to Japan, Central America and several African states, Venezuela in the market to buy.
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