World: The latest barley international market events

AgriNews reported November 10 in its Grains and Oilseeds report that US weekly barley exports for 2006/07 (Jun/May) stood at 345,000 t (increase 27,000 t for the last week) of which 271,000 t to Japan, 24,000 t to Algeria, 15,000 t Canada plus 22,000 t to unknown.

At the same time, AgriNews said that the results from Brussels were much as expected, the domestic markets will not decrease and the market is waiting for the Black Sea to run out. Brussels granted no refunds on November 09 (15,000 t at €2.98 bid) and sold intervention stock for Third Country export 25,000 t ex Hungary at €125.70 and about 5,000 t ex Estonia at €129.20. The trade took 12 “daily” refunds at €zero over the last two weeks.

There was nothing new to report for the Black Sea region, the trade is still into big logistical problems and not wanting to trade.

A very reliable source, according to AgriNews, stated November 09 that the Saudi Arabian Government has lifted the import subsidy from SAR250 to SAR420 meaning from $66 to $112. They have also lifted the domestic price to SAR24. Based the calculations this basically means for the importer that the selling price domestically plus the subsidy equates about $225 meaning bang on the present imported market. With the EU prices and the Black Sea logistical problems one wonders why the trade wanted to sell barley as reported for the last week.

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