World markets of feed barley are very firm due to a disappointing crop in Australia, high domestic prices in Canada and Russia, low EU export restitutions and most recently the political crisis in the Ukraine. Quotes FOB EU and Black Sea ports are around US$ 130,-. The Euro/U.S. Dollar exchange of 1.33 and the firm freight markets impede world trade. Statistics: U.S. barley exports June 1 – November 20 144.000 tons, Canadian August 1 - November 21 275,000 tonnes, Russian July-October 302,000 tonnes, Ukrainian July-October 2.2 million tonnes, EU export licences granted July-November 970,000 tonnes. USDA/IGC estimate the world import demand at 15.2-15.7 million tonnes. Compared to above figures (Australian exports n.a.), it leaves about 10 million tonnes still to be executed in the crop year 2004/05.

08 December, 2004