16 March, 2004

Malt export licence bookings in the EU were 1.671 million tonnes from July 1, 2003 until February 24, 2004. If bookings continued at the same pace till the end of the crop year, they would reach a number of 2,5 million tonnes, but that is totally unbelievable. Nevertheless last year's licence total of 2.038 million tonnes may be topped this year.

Since the time when export restitutions were abolished, malt exporters usually fix their licences a short while before shipments, thereby saving more expensive fees for long-term licences and bank interest. Only in September of last year, when exporters feared an export tax, additional licences were booked, but they should be used by now. In spite of these fixation practices there will always be differences between the actual days of licence taking and export shipments. As per Eurostat malt exports of the EU were 2.329 million tonnes in 2001, and 2.374 million tonnes in 2002. Early estimates for 2003 will be available soon.

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