Argentina: No changes to malting and feed barley prices in Argentina

There are no changes to either malting or feed barley FOB prices in Argentina, in a relatively quiet market with limited new trade taking place. However, there has been the on-going presence of sporadic demand in the market, mainly for feed barley for Saudi Arabia, RMI Analytics said in their latest report.

Encouraging is demand for shipment as early as April�25 which in a very quiet market, is good news. However, the lack of farmer selling is an on-going challenge for the trade to manage. Very wet conditions across Buenos Aires province are impacting barley logistics and delaying vessel loading. Farmer FAS bids are steady and also maintaining a reasonable malting barley premium, with competitive pressure coming from wheat and corn prices.

Argentina�s current efforts to renegotiate their IMF loan (USD44 bln) may have impacts on the export tax regime, and also the official/unofficial exchange rate formula which prevails currently.

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