World: Barley markets in June dominated by good crop prospects in North America and Australia

Barley markets in June were dominated by good crop prospects in North America and Australia, the export quota system of the Ukraine and purchases of Saudi Arabia, according to analysts, July 2.

International grain houses sold several cargoes of optional origin barley to S.Arabia at prices around and above US$ 300,- CIF. The Saudi government, however, did not react to higher markets, but left import subsidies and domestic prices unchanged at US$ 245,- CIF. It is reported that local stocks and arrivals of barley will be sufficient for a few months. Origins of the barley sales are the Northern EU, the Black Sea incl. Romania and Bulgaria, and it is rumoured, also Canada and China. ABB Grain of Australia concluded a five year LTA with United Feed of Saudi Arabia for min. 1 Mill. tons annually.

18 July, 2007