Glanbia lowers ‘green’ grain price

IRELAND‘S NUMBER one grain buyer, Glanbia, has announced a harvest price for “green” cereals of €95/t (£64), confirming farmers‘ worst fears about the state of the market.

The same price will be paid on both wheat and barley at 20% moisture, though there will be local variations depending on regional production and demand, said a company statement.

Glanbia added that feed barley prices would be fine-tuned in early October, with feed wheat subject to a final market review in March 2005 to account for market performance.

These quotes are well down on last year, when most buyers were paying €102/t (£68) for green barley, and €10-€15/t (£6.70-£10) more for feed wheat.

A spokeswoman for the Irish Grain and Feed Association told FW that buyers could not ignore the weaker international market.

But the Irish Farmers‘ Association accused Glanbia of using its muscle to force down prices.