Australia: AWB increases barley pools estimated returns

AWB on January 9 increased its South Australian & Victorian 2013/14 Barley Pools Estimated Pool Returns (EPRs) by A$14 - A$23 a tonne.

Head of Trading and Risk Management Mr Josh Martin said: "Domestically barley prices have increased and the market has found a level of support from continued dry conditions and demand in NSW & Queensland."

"Globally feed markets have been recently impacted by China's rejection of GM US corn however this has impacted positively on Australian barley demand and price as the market sees current Australian barley prices as fair value," Mr Martin said.

"We anticipate record barley exports into China this year which is a positive for pool participants and we continue to invest considerable effort in maintaining and building relationships in supplying feed barley to Asia and Middle East markets, where customers are looking for reliable suppliers."

10 January, 2014