Australia: Pool estimates rise and sliding scale adjusted
ABB Grain Ltd has reviewed its gross barley pool indicators for 2005/2006, increasing its malting and feed barley estimates each by A$5/tonne, announced the company on 22 November 2005.
ABB’s general manager marketing, Nigel Officer, said that currency movements reflecting a lower Australian dollar and renewed demand from China had prompted the adjustments.
“The fact that Chinese demand for barley has started to emerge, and we’ve been able to capitalise on that, has enabled us to raise the pool estimate for malting barley,” Mr Officer said.
“At the same time feed barley markets globally continue to be strong and we have a very good early sales book in place reflecting this market.
“With the good early sales position for feed barley and the currency movement we have been able to increase the feed barley estimate as well as malting barley.
“A further A$5/tonne premium would also apply for Baudin and Sloop malting varieties although this season is the last in which the premium will apply.”
The new pool indicator prices are A$195/t for malting barley and A$160/t for feed barley.
ABB has also narrowed the sliding scale to assist growers who deliver ‘off specification’ malting barley. The scale reflects market value for malting barley based on protein level and the retention percentage of grower deliveries.
“In an effort to maximise the return to growers who deliver Schooner or Sloop malting varieties, but miss out on their grain being graded Malt 1, we’ve narrowed the sliding scale, which will increase benefits to growers,” Mr Officer said.
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