Australia: 2005/2006 season malting barley pool estimates rises
ABB Grain Ltd has reviewed its gross barley pool indicators for 2005/2006 season barley and has raised its malting barley estimate by A$5/tonne for both SA and Victoria, ABB Grain communicated on January 17.
ABB’s executive manager group marketing, Gary Spiel, said that continuing strong world demand, creating a “global tightness” for premium quality malting barley, had prompted the latest increases in estimates – the sixth rise since late August.
“This increased estimate demonstrates the value of delivering into barley pools, as they capture the value of the grain over time through selection of markets,” he said.
“In the 2005 harvest, there was considerable emotion about cash prices versus pools, but the figures show that growers who supported the No.1 malting pool will receive between A$29/t and A$35/t more than the average cash price during that harvest.
“The average cash price for malting barley at Port Adelaide over the period mid-November 2005 to the end of January 2006 was A$158.28/t, with the corresponding average price over the same period at Geelong being A$164.73/t.
“Even allowing for the cost of harvest finance, the current pool return is in excess of average cash prices during that period mentioned.”
Mr Spiel said international demand for quality barley remained strong and Australia was well placed to take advantage of the current world supply and demand profile.
Revised gross estimates for 2005/2006 season barley are now:
South Australian pools 2005/2006 season
No. 1 malting (closed Jan 24, 2006) A$225/tonne
No.1 feed (closed Jan 24, 2006) A$165/tonne
No.2 malting (opened Jan 24, 2006) A$207/tonne
No.2 feed (opened Jan 24, 2006) A$152/tonne
Victorian pools 2005/2006 season
No.1 malting (closed Oct 31, 2005) A$230/tonne
No.2 malting (closed Jan 24, 2006) A$225/tonne
No.3 malting (opened Jan 24, 2006) A$207/tonne
No.1 feed (closed Oct 31, 2005) A$170/tonne
No.2 feed (closed Jan 24, 2006) A$165/tonne
No.3 feed (opened Jan 24, 2006) A$152/tonne
A A$5/t premium also applies to Baudin and Sloop malting varieties for 2005/2006 only.
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