Barley prices in Ukraine rise after Turkey tender
In Ukraine, traders have stepped up their purchases of barley amid a decline in supply from farmers, so a new wave of price increases is observed in ports, and the results of the tender in Turkey give hope for further growth in demand.
Over the week, export prices for feed barley in Ukraine increased by another 50-100 UAH/t to 10,300-10,400 UAH/t or $215-217/t with delivery to Black Sea ports, which corresponds to the maximum levels at the beginning of the season, but the growth of the dollar exchange rate against the hryvnia will continue to raise hryvnia prices.
Demand for malting barley in Ukraine remains quite low, so producers are actively selling barley as feed.
The increase in demand prices for feed wheat and corn by $1-2/t to $209 and $206/t, respectively, also slightly supports barley prices.
The Turkish Grain Agency (TMA) held an international tender for the purchase of feed barley on October 30. According to preliminary data, 250 thousand tons were purchased, as planned, at a price of $252.8-265.6/t CFR with delivery from November 10 to December 10, which exceeds the purchase prices in September ($248.9-257.57/t CFR).
It is worth recalling that corn prices remain at low levels, which will restrain the growth of feed crop prices in the future, so it makes sense for farmers to take advantage of the new wave of barley price growth and accelerate sales.
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