Australia: Both malting and feed barley prices lower as rain improves crop prospects
Prices for both malting and feed barley in Australia are lower, as rain improves crop prospects, and brings with it a greater willingness of farmers to sell (e.g. Western Australia and New South Wales), RMI Analytics said in their early August report.
China remains the key destinations for exports and recent trades of new business have been reported. One concerning fact is the drop in total Chinese barley imports (all origins) where June was only 850 thousand tonnes, after April/May imports were ~1.6 mln/month. If China’s volumes remain 50% of the earlier pace, global competition for a reduced demand will be fierce, the analysts believe.
Recent brewer financial reports show hope for a demand recovery in South-East Asia but a more prolonged confirmation of any such rebound is needed, meanwhile domestic maltster demand is low, with production cuts reported.
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