By FWi staff
CEREAL growers hoping for higher barley prices next season are likely to remain disappointed, market analysts say.
A recovery in new-crop barley prices looks limited given the likelihood of a large crop this harvest, predicts the Home-Grown Cereals Authority.
The world market is already over-supplied with coarse grains and falling prices on the open market have encouraged growers to sell into intervention.
As a result, European Union intervention stores are bulging, with more than 1.2 million tonnes of barley submitted to United Kingdom Government stores alone.
New-crop barley prices for harvest fell £1.00 last week to £75.00/ tonne for September. Open market old-crop barley is currently trading at about £73.00/ tonne ex-farm.