Theoretical malt prices crop 2003. 18/02/2004

EURO = USD 1.2838 February 18, 2004
Crop year		2003
Parity		FOB Antwerp
Position		Feb 2004-Sept 2004
Conditioning		Bulk		In bags		Bulk containers		In bags in containers
Malting barley variety		EURO	USD	EURO	USD	EURO	USD	EURO	USD
2RS	Scarlett	272.00	349.50	287.50	369.00	283.50	364.50	293.50	376.50
2RS	Prestige/Cellar	271.50	348.50	286.50	368.00	283.00	363.50	292.50	375.50
2RS	Aspen	269.00	345.50	284.50	365.00	280.50	360.50	290.00	372.50
2RS	Optic	269.00	345.50	284.50	365.00	280.50	360.50	290.00	372.50
2RS	Astoria	269.00	345.50	284.50	365.00	280.50	360.50	290.00	372.50
2RS	Cork	268.00	344.00	283.00	363.50	279.50	358.50	289.00	371.00
2RS	Average price	270.50	347.00	285.50	366.50	281.50	361.50	291.50	374.00
2RS	FAQ	266.50	342.50	282.00	361.50	278.50	357.00	287.50	369.50
6RW	Esterel	266.50	342.50	282.00	361.50	278.50	357.00	287.50	369.50
*	Asia Malt 70/30	269.00	345.50	284.50	365.00	280.50	360.50	290.50	372.50
**	Asia Malt 50/50	268.50	344.50	283.50	364.00	280.00	359.50	289.50	371.50

* - 70/30 = 70% Average two Rows Spring and 30% Six Rows Winter
** - 50/50 = 50% Average two Rows Spring and 50% Six Rows Winter
       nq - Not quoted