World: Barley export surplus and financial crisis depress latest FOB prices

The large export surplus of barley in the world had depressed price levels since harvest time in the Northern Hemisphere as the financial crisis accentuated the bad shape of world commodity markets, traders reported on November, 1.

Analysts report the following FOB prices: Rouen USD 171, Odessa 170, Novorossiysk 165/175. Jordan, however, purchased January shipment at USD 156/159 CIF.

Australian malting barley, new crop, traded at USD 310 CIF China recently, but is reported down to USD 260.

French 6row barley, variety Cervoise, is quoted at USD 220 CIF China.

The EU opens its intervention stores in November, and present price levels in interior markets are only EUR 5 to 10 per ton above intervention buying levels, it is reported.

Analysts maintain that Black Sea barley offers will dominate markets, until or unless the Russian winter stops the grain flow to Black Sea ports.

04 November, 2008