08 May, 2007

EU: Barley price levels are too high to compete in world markets with the Black Sea

EU feed barley supplies are very tight, price levels are too high to compete in world markets with the Black Sea. Only during the winter, when the Ukrainian government had strangled the export business, the EU was a large exporter, the total has reached almost 3.1 million tonnes by now. Lately exports include malting barley, guesses are upto 200,000 tonnes to Russia.

Barley intervention stocks have dwindled from 2.2 million tonnes at the beginning of the grain year to 400,000 tonnes now. Only 1,500 tonnes of barley were tendered to intervention during this grain year. The intervention price (EUR 101.31 per ton), once the secure bottom of barley markets, has no importance at present and most likely for a long time to come. In the major deficit region of Holland and Northwest Germany markets are between EUR 150,- and 155,- delivered compound factories for old and new crop positions. The new crop market rendu Rouen is EUR 136,-, basis July.

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