World: Malt shortage and record beer sales put an enormous financial stress on the malting industry

Experts pointed out October 31st that 2006/07 MY is a year of extremes: barley crop failures in the EU and Australia, an apparent capacity shortage of the world's malting industry, record beer sales in most (beer-drinking) countries. North American and Australian maltsters are virtually sold out. South American malt is almost sold out and anyway insufficient for the Continent's needs.

In Europe - EU, Russia and Ukraine - surprisingly many maltsters have sold out their capacities, others are blocked by insufficient barley supplies. In some cases maltsters offer their capacities at a fixed margin, but leave the risk of the barley cost to their buyers. The possibility of a malt shortage is in the air.

The price development of malting barley since the harvest presents an enormous financial stress to the malting industry, probably never experienced before. As maltsters and brewers have covered their needs only for the shortest possible period and crop 2007 barley prices are already very firm, there is very hard to forecast a relief for barley and malt markets for next year.

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