Australia & China: Chinese demand for barley underpins values paid to Australian growers
Market Check pool manager, Nick Crundall, said Chinese demand for barley in particular had underpinned values paid to Australian growers for the big-yielding crops harvested in 2016, the Grain Central reported on May 17.
“Chinese demand has had a major impact on the Australian barley market this season — it’s saved barley growers’ bacon,” Mr Crundall said.
China has by far been the biggest export destination for current-crop Australian barley, easily eclipsing other destinations like Saudi Arabia and Japan.
“This level of demand from China has been a key catalyst to the barley market performing strongly post-harvest.”
Mr Crundall said without China, Australian barley would have to be priced more aggressively into Saudi Arabia, traditionally a key bulk market, in order to clear storages before the 2017 harvest started.
“Demand normally drops off around this time each year as Black Sea origin barley comes to the market, so it will be interesting to see if this pace can continue into China for the remainder of our season.”
Indications are that China is switching some of its prompt-shipment interest to Ukraine.
Trade sources report this has been evidenced by a drop-off in shipments of Australia’s total Chinese barley exports to 200,000 tonnes in April, down from around an average of 700,000 tonnes per month in January, February and March.
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