Australia: ABB Grain Ltd reduced malt barley pools by A$2/tonne

ABB Grain Ltd announced on February 9 it has reviewed its gross barley pool indicators for 2005/2006 and has reduced its malting barley estimates by A$2/tonne.

The revised estimates for the No.1 malting pool in South Australia, which closed on January 24, is now A$186/t, with the No.1 feed pool in SA unchanged at A$163/t. For the No.2 malting pool in SA which opened on January 24, the revised estimate is A$168/t, with the No.2 feed pool unchanged at A$150/t.

The revised estimates for the Victorian No.1 pool, which closed on October 31, is A$191/tonne for malting barley and unchanged at A$168/t for feed barley in the No.1 pool. In the east coast pool (Victoria, NSW and Queensland) the gross barley pool indicators for the No.2 pools, which closed on January 24, is now A$186/t for malting barley, with the feed No.2 pool unchanged at A$163/t. For the No.3 pools which opened in Victoria, NSW and Queensland on January 24, the revised estimate is now A$168/t for malting barley with the No.3 feed pool unchanged at A$150/t.

A A$5/t premium applies to Baudin and Sloop varieties, although this is the last season in which this premium will apply.

ABB’s general manager marketing, Nigel Officer, said the adjustment was a reflection of the Chinese still being reluctant to come back into the malting barley market.

“The malt pool is still somewhat less certain than feed, with strong sales of feed still occurring and we’re also seeing falling commodity prices in the US for malting barley,” Mr Officer said. Mr Officer said that despite the latest revision, the company was still confident of being able to achieve good values for its remaining stocks.

10 February, 2006