Australia: 3 million tonnes of the barley crop will be of malting quality, analysts estimated
After a late start good rainfalls and mild spring temperatures provided an optimal finish to the barley cropping season.
Analyst’s estimates range from 8.0 to 9.0 million tonnes. After a few rainy days in late November weather turned fine again, and the harvest progresses well. Quality and condition of malting barley is good.
Private estimates are that 3 million tonnes of the barley crop will be of malting quality, which leaves an export surplus of 2 million tonnes, 1.5 million tonnes for China, 0.5 million tonnes for Japan/Korea/Taiwan.
Price levels CIF China are in the high 180’s (US $) but buyers expect lower levels. The deregulation of the Eastern Australian markets and the special licencing system of Western Australia has created more competition amongst Australian shippers.
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