Australia: Grain Pool’s estimated pool return for feed barley drops by AU$10 per tonne

The Estimated Pool Return for Grain Pool's No.1 Feed Barley Pool has dropped AU$10 this week and is now AU$255 - AU$265 per tonne, Farm Online communicated on September, 29.

According to CBH, the decline is due to large export surpluses from the Black Sea and former Soviet Union which continue to flood the Saudi Arabian feed barley market.

A drop in freight rates, as well as the weakening Euro against the US dollar, has seen European grain more competitive in the world market, the company reported.

The CBH Group’s marketing arm, Grain Pool Pty Ltd is a specialist marketing organisation supplying grain to the major markets of the world. Since its formation in 1922 as the Wheat Pool of Western Australia, the Grain Pool has grown substantially and is now Western Australia’s third-largest exporter selling around three million tonnes of grain for an annual turn-over in excess of AU$800 million.

01 October, 2008