E-Malt.com News article: 3216

Black Sea: Exports are estimated to reach 5.5-6.0 million tonnes from the crop of 2004. Rumours are that Russia and Ukraine already sold 3 million tonnes for export, according to market analysts. Prices never reached the low levels of two years ago and present buyin levels are, delivered port silos: US$ 92-97.50 for prompt loading, US$ 88-92 for later positions. Ukrainian government bodies bought 2.3 million tonnes and will buy another 1.2 million tonnes of food grains for the national reserve, which, no doubt, has a stabilizing effect on all grain markets. Russia has harvested 800-850,000 tons of malting barley under good conditions. Nevertheless Russian maltsters admit that EU barleys are of better quality, giving better malt results. Total malting barley needs in Russia are now 1.2 million tonnes. Present domestic markets run from (equivalent) EUR 90 to EUR 100 exw, excl. VAT. The trend is firmer, prices are expected to rise by a substantial margin during the next few months.

Ukraine: The barley crop is of variable quality, but domestic needs of 300,000 tonnes will be covered, a small surplus may be available. Market is around EUR 90 EUR 95 exw.


08 September, 2004