EU: Malting barley prices slightly down on lack of demand
Lack of demand from the brewing and malting industry has led to lower malting barley prices on the EU markets this week, GrainCom said in their weekly update.
On the flip side, there is a lot of spot execution happening and it is noteworthy that long-term supply contracts are called in much earlier than in ‘normal’ years, the industry observers report.
Stocks of malt are not big in Europe, and the GrainCom analysts expect that procurement needs will pick up in the non-to-distant future.
Feed barley market remains well supported in Europe in view of renewed demand from Iran, China and short covering of sales to Saudi. It’s unclear, yet, what will be the likely origin for the last 1 mln tonnes which was bought for delivery LH Feb/March last weekend.
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