World: Barley prices likely to remain well-supported - analysts
Global growth has shown to be resilient through the Covid variants. Regardless, commodity markets are under pressure as fear for an economic decline are increasing, RMI Analytics reported.
Specifically related to the tight balance sheet, barley prices are likely to remain well-supported relative to these influences from outside markets. Although slowing, beer growth is also rather resilient and 2021 is set to be a major rebound.
Canadian prices continue to lead the way with France also steady in second place. The more interesting price activity is in Australia and Argentina, where prices are trying to close the gap. There are weather concerns in the east-coast of Australia and less than ideal rain in South America. All of this adds an additional layer of uncertainty. Generally prices are well-supported and malting premiums continue to push wider.
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