Australia: Final barley crop figure may approach 14 mln tonnes, exports may exceed 7.5 mln
Australia’s final barley crop figure may approach 14 mln tonnes. Logistics in the country and in ports works very efficiently, since November close to 4 mln tonnes of new crop barley have been shipped abroad, H. M. Gauger GmbH said in their latest report.
China has been a surprisingly large buyer of feed barley; and it seems that much of the malting demand has been covered in FAQ grades. While last year’s barley imports of China totalled 5 mln tonnes, a larger volume (6 mln?) is deemed possible for 2017, of which 3.0 – 3.5 mln tonnes to the malting industry.
Australia’s former annual export record of 5.7 mln tonnes will be beaten this year, estimates are shipments of 7.5 – 8.0 mln tonnes, the Gauger analysts believe. Saudi Arabia is the main buyer of feed barley, Japan imports 1 mln tonnes of feed and food barley per year from several origins, but mostly from Australia.
Sales contracts in the books, shipping slots and freight differences presently lead to great differences of market prices: feed barley FOB Western Australia USD 171,-, FOB South Australia/Victoria USD 160,-. Malting premiums have come under pressure and have dropped to about USD 15,-/20,- per tonne. Supplies to shipping slots often provide for heavy price fluctuations.
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