China: Chinese maltsters step up barley imports

Chinese maltsters recently stepped their acquisition of barley – mainly FAQ and feed barley, H. M. Gauger GmbH reported earlier this month.

Trade estimates are that China has purchased 1.3 mln tonnes of Canadian, 300 - 500 thousand tonnes of Argentinean and 300 thousand tonnes of French barley. It is expected that they need 2.0 mln tonnes more till the end of the crop year.

All purchases of feed barley seem to be absorbed by the malting industry, such policy is in line with the intended maximum usage of wheat, local barley and adjuncts.

Present price levels CIF Chinese ports are: French feed USD360 per tonne, 6rw malting USD415, 2rs malting USD440; Argentinean FAQ USD410; Canadian malting USD450, FAQ/feed USD390-400.

China has always shown a preference for Canadian (and Australian!) barley, this year they are also concerned about high protein contents of French barley and the consequences of the Argentinean drought for its barley quality.

In January-September China imported 4.4 mln tonnes of barley, down 50% y/y. Like the rest of the world, they do not buy barley for feed, although it is the cheapest feed grain CIF China.

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