Australia: AWB to close Victorian and South Australian barley pools this week

AWB will close its Victorian and South Australian barley pools at 5pm on Friday, January 18, the company said.

The move comes hot on the heels the company will shut its wheat pools on January 31.

The pools will have a shortened selling period, with AWB planning to finalise them by July, six months ahead of normal.

The company also brought forward its wheat pool selling program by three months to the end of November.

AWB product manager Richard Williams said export demand to the key Asian and Middle East markets had slowed and domestic customers had good coverage.

Despite that, Mr Williams said overall market fundamentals support barley prices, with international and domestic demand expect to pick up in coming months.

AWB hopes to sell its pool barley before the northern hemisphere crop is harvested.

16 January, 2013