Barley prices fall in Black Sea on weak demand

Export quotations for feed barley FOB Black Sea are declining amid low and irregular external demand, as well as under pressure from new crop grain prices, Refinitiv Agriculture informs.

According to analysts, feed barley trade remains unstable in the Black Sea region. Market operators say that trade activity in the region revives only during the periods of international procurement tenders. The main barley importers and buyers either do not make purchases or demonstrate low demand prices.

"In such conditions, it is difficult to establish the fair level of barley prices," noted the traders.

Pursuant to the report, suppliers of Russian barley are more active in the market, having larger stocks of commodities and offering supplies at lower prices. In addition, the ruble depreciation has triggered an increase in barley purchasing prices in the Azov basin small ports.

However, exporters report that even at such prices, barley procurement in the southern regions is costly, thus, a very limited number of exporters in the Azov region buy barley.

As a reminder, barley export from Ukraine as of Mar. 20 amounted to 4.19 mln t, 916 thou. t more y-o-y.