Chinese factor pushed the prices of Ukrainian barley up by 20%

Source

APK-Inform

1285

According to APK-Inform, the upward price trend has prevailed on the export market of Ukrainian barley since the start of 2019/20 MY. The appreciation has accelerated since the start of September.

“The growing demand from China is the main driver of the appreciation of Ukrainian barley. We observed the same trend at the start of the previous seasons, however, the demand from China is unprecedented this year! The country increased import of Ukrainian barley by 97% in July-August 2020/21 MY compared to the same period of 2019/20 MY. Ukraine exported more than 1.3 mln tonnes of barley in August that turned to be the record volume for this month, despite decrease of shipments to Saudi Arabia by 14%”, - the head of the local markets department of APK-Inform, Anna Tanskaya commented.

The bid prices of barley have grown by average 20% in the ports of Ukraine since the start of the season. As of September 18, the prices reached 6050-6375 UAH/t СРТ-port.

Prices in dollar terms increased significantly to 177-190 USD/t СРТ-port. Only separate traders set the minimal prices.

“Additionally, barley prices were supported by the upward development of neighbor markets, concerns regarding crop size in number of exporting countries, currency factor and reserved farmers’ selling. However, it was Chinese demand that pushed the price up as the country gives a good premium”, - A.Tanskaya summarized.
Advertising

Enter