Australia: AWB revises down estimated returns for malting barley from 2011/12 pools

The AWB on November, 7 revised its estimated returns for its 2011/12 barley pools with feed barley remaining unchanged however malt barley revised down.

AWB's Jon White said: "Australian malt barley prices have come under pressure as Canadian malt barley is being sold into markets where they have a freight advantage over Australian malt barley."

"We see this placing price pressure on the value of Australian malt barley sales into key customers throughout Asia," Mr White said.

"Current feed barley prices are being well supported with strong interest out of the Middle East and China. However uncertainty remains around Saudi Arabia's demands for feed barley over the coming months.

"The first six months of 2012 should provide good support for Australian barley prices and farmers who participate in our barley pools should benefit from these future prices.

"Globally the balance sheet for barley remains tight and we anticipate that consumers will turn to Australian barley, at least until Black Sea supplies become available from the middle of 2012," Mr White said.

08 November, 2011