Farmers will not be happy at all, if prices fall back from top to normal levels in the crop year 2003/2004. However, maltsters should really appreciate lower barley and malt prices after the experiences of the present campaign. After all, malting barley is not a grain in itself, but only the highest class of the barley qualities. When malting barley premiums were US $ 60,- / 70,- per ton above feed barley prices instead of the usual US $ 25,- / 35,-, markets like Russia and China purchased much more low-class (feed type) barley than normal, and especially from their own crops. We do not know how much more adjuncts – maize, barley, rice, sugar – were used for brewing, but that percentage must have gone up as well. Obviously maltsters all over the world must be interested to correct such developments as much as possible.

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