China & Australia: Barley purchases continued with 150,000 t in 14 days, prices expected to upgrade

China has bought 150,000 t of malting barley from Australia for the last two weeks at US$/t 200 (instead of 175US$/t two months ago), G4S Bulletin n. 5951 stated August 18.

China barley purchases amounted for this season 1.5 million t. The Chinese barley demand is actually pushing up barley prices as it previously announced it will continue with more barley acquisitions because of the weakness of the barely markets in Canada and Europe. Considering this opportunity, barley prices are expected to accordingly hike.

23 August, 2006