By FWi staff
IMPROVED open market prices could lead to significant amounts of barley being withdrawn from intervention, it was claimed today.
Old-crop barley futures have climbed £5 since last month to £78/ tonne for May, according to the Home-Grown Cereals Authority. And new-crop contracts have risen by £1 over the same period to £74/ tonne for September.
The narrower gap between intervention and open market prices in the wake of last weeks Green Pound revaluation is likely to lead to barley awaiting delivery into intervention being withdrawn, say HGCA analysts.
Last weeks revaluation reduced intervention prices by more than £2. Crops delivered into Government stores this month will now be valued at £85.48/ tonne rather than £87.50/ tonne.