Ukraine: Barley export prices rise to an all-time high thanks to demand from China

Ukrainian barley export prices have risen to an all-time high supported by demand from China and expected export restrictions in Russia, APK-Inform agriculture consultancy said on February 10.

Barley bid export prices rose to $243-$249 per tonne CPT (carriage paid for) Black Sea, the consultancy said in a report.

"Strong demand from China continues to play a key role. In July-January 2020-2021 season, China has already imported more than 3 times more Ukrainian barley than in the entire previous season," APK-Inform said.

It also mentioned the Russian government's formula-based export tax system for wheat, corn and barley that is designed to help combat domestic food price inflation.

Ukraine, a major barley exporter, harvested 7.6 million tonnes of barley in 2020 and the government had expected exports could total 3.8 million tonnes in the 2020-21 July-June season.

However, traders have already sold abroad 3.95 million tonnes of the commodity thanks to high demand and favourable prices.

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