Australia: ABB’s barley pool estimates unchanged
ABB Grain has reviewed its gross estimates for its 2006/2007 barley pools and has left them unchanged, according to their press release, May 8.
The No.3 gross pool indicators remain at $258/tonne for malting 1 barley while feed 1 barley remains at $171/tonne.
ABB’s general manager group marketing, Gary Spiel, said that malting estimates were under pressure as Chinese buyers were “on holiday” and were refusing to buy at current world prices. He said they may have covered their requirements through to the harvesting of northern hemisphere crops.
“There is still some interest for feed barley, primarily from our Middle East customers, however the continued strength of the Aussie dollar is working against us, while shipping freight rates which are almost at a 30-month high are adding significant costs in getting grain to market,” Mr Spiel said.
ABB would continue to explore all opportunities for malting barley sales in coming months.
Current gross estimates for South Australian 2006/2007 barley pools are:
No. 3 malting (opened April 2) - AU $258/tonne*
No. 3 feed (opened April 2) - AU $171/tonne*
No. 2 malting (closed April 2) - AU $333- AU $338/t
No. 2 feed (closed April 2) - AU $229/t
No. 1 malting (closed January 24) – AU $338/t
No. 1 feed (closed January 24) – AU $246/t
* All prices quoted are for No.1 grade malting and feed grain.
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