Mid-East demand boosts EU barley HGCA
Tuesday, 01 February, 2000
EU barley prices moved higher over the week, as a result of growing demand from the Middle East and North Africa. Most prices saw gains of 
2-3/t compared to a week ago.
Despite the news that France is likely to supply 70,000t of an 80,000t Moroccan wheat tender, French feed wheat prices came under pressure over the week. News that French wheat exports to third countries fell back also weighed on the market.
German grain prices ended the week at generally firm levels, helped by steady buying interest from processors and positive price expectations.
German barley crops in the eastern regions may have suffered from frost damage as temperatures mid-week fell to -15°C.
EU malting barley markets saw prices supported close to week-ago levels. Despite some short covering, most in the market are reported to have covered their requirements.
The International Grains Council has estimated that the 2000 wheat harvest for the EU is likely to be 100.5 million tonnes, a 4% increase from last years 96.6m tonnes. This has been attributed to a 4% increase in planted area.
2-3/t compared to a week ago.
Jordans entry into the market offered the latest interest with its tender to buy 100,000t of feed barley last Monday.
Wheat prices continued their climb of recent weeks moving 1-3/t higher from the previous week. Prices also drew support from intervention, with total cereal offers for the first half of January reaching 253,060t.
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Taken from HGCA weekly MI Bulletin To contact the HGCA phone 020 7520 3972 Click here to visit the Home-Grown Cereals Authority |
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